VOL XXXI
NO. 20
22-FEBRUARY-1988
OPEC AND OIL PRICES
South Korea Raises Fee on Imported Crude Oil
South Korea has decided to increase the fee on imported crude oil to $6.48/Bfrom the previous level of $4.66/B, according to an announcement by the Ministryof Energy and Resources on 17 February. The fee imposed on imported liquefiednatural gas (LNG) will remain the same at $63/ton. South Korea originally leviedthe taxes in 1979 in order to finance the country's petroleum investmentsoverseas.
The...
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