1993-06-22, English, Article, Other article edition: Orimulsion facing major tax barriers in sales to Europe. (reclassified as fuel oil substitute)

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Bookmark: http://trove.nla.gov.au/version/110645171
Physical Description
  • Newsletter article
Published
  • The McGraw-Hill Companies, Inc., 1993 June 22
Language
  • English

Edition details

Title
  • Orimulsion facing major tax barriers in sales to Europe. (reclassified as fuel oil substitute)
Also Titled
  • Orimulsion facing major tax barriers in sales to Europe.
Appears In
  • Platt's Oilgram News, v71, no.n120, 1993 June 22, p1(2) (ISSN: 0163-1284)
Published
  • The McGraw-Hill Companies, Inc., 1993 June 22
Physical Description
  • Newsletter article
Subjects
Target Audience
  • Trade
Summary
  • Venezuela's petroleum exporting trade will be greatly affected by the UK Treasury Dept's reclassification of the boiler fuel Orimulsion as a fuel oil substitute. As such, it becomes liable for import taxes of at least $16.50 per tonne, potentially losing Petroleos de Venezuela S.A. $6.4 billion in sales between 1993 and 1995. The Venezuelan government has begun to lobby other European Community members to overturn the UK decision, because it is relying a great deal on Orimulsion to make the reserves of extra-heavy crude oil in the Orinoco Tar Belt into a product that is acceptable in an environmentally conscious market. Venezuela claims that the tax shift is a deliberate protectionist measure against Latin American trade.
Language
  • English
Database
  • Gale General OneFile
Identifier
  • 13178561

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