Encyclopedia

Price of oil


Cargo oil price - the price of oil realization specified by the parties to the transaction, but not lower than the average level of crude oil prices for the reporting period of the "Urals" grade, determined as the sum of arithmetic mean purchase and sale prices on world oil markets (Mediterranean and Rotterdam) for all trading days divided by the number of trading days in the corresponding reporting period (ceased to be effective from 2019-05-01)1.

Cargo oil price - the price of oil realization specified by the parties to the transaction, but not lower than the average level of prices for "Urals" grade crude oil during the reporting period, which is taken as equal to the average level of prices for "Urals" grade crude oil during the completed tax period, determined in accordance with the procedure established by paragraph 3 of article 342 of this Code2.

  1. No. 32. Art. 3340.
  1. Tax Code of the Russian Federation, as amended on 2019-01-01, article 346-34, ceased to be effective from 2019-05-01 // RSZ RF. 2000. No. 32. Article 3340. ↩

  2. Tax Code of the Russian Federation, as amended on 01.01.2026, Art. 346.34 // RSZ RF. ↩

Laws with commentary

Codes and federal laws