South Asia s biggest oil producer, Kazakhstan is to increase oil export duty to $40 per tone from next year.
According to country s oil ministry, the government is likely to discuss the issue at the cabinet soon.
Kazakhstan's decision to bring back a tax on almost all crude oil exports in July effectively revised the terms of its long-standing agreements with two major foreign-led oil groups.
At $20 per tonne, the current duty is a tenth of the level applied before the tax was scrapped in January 2009 in a move to help producers ride out low crude prices during the global financial crisis.
According to country s oil ministry, the government is likely to discuss the issue at the cabinet soon.
Kazakhstan's decision to bring back a tax on almost all crude oil exports in July effectively revised the terms of its long-standing agreements with two major foreign-led oil groups.
At $20 per tonne, the current duty is a tenth of the level applied before the tax was scrapped in January 2009 in a move to help producers ride out low crude prices during the global financial crisis.
