Kazakh Minister Says Oil Export Duties “Should Be Higher”

Excerpt from report by privately-owned Interfax-Kazakhstan news agency

Astana, 17 July: Kazakh Minister of Energy and Mineral Resources Sauat Mynbayev does not rule out an increase in the rates of customs duties on the export of crude oil to stabilize prices on the domestic market of oil products.

“The amount of [customs] duties should be higher and only then there will be a result,” the minister told journalists during a break in the ministry’s session with the participation of the country’s producers of oil products and main consumers in Astana today.

“But we will not be able to greatly increase (customs duties on the export of oil) this year, since companies will not be able to implement their investment programmes because of a sharp increase,” the minister explained.

[Passage omitted: the minister spoke of possible measures with regard to oil supplies on the domestic market]

Originally published by Interfax-Kazakhstan news agency, Almaty, in Russian 1255 17 Jul 08.

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