Russia to cut export duty on ultra-heavy oil to stimulate production
Green Car Congress
MARCH 2, 2012
Business Mir reports that the Russian government has decided to cut the export duty on ultra-heavy oil to a mere 10% of the standard rate for 10 years to stimulate production. The decision will mostly benefit Tatneft, LUKoil and Alliance Oil, according to the report. Natural bitumen is oil having a viscosity greater than 10,000 cP.
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