HS Code for Brent Crude Oil (HS 2709.00)
'Brent' physical is a basket of Forties, Oseberg, Ekofisk, Troll and (from June 2023) WTI Midland delivered to Rotterdam. The dated Brent price is the world's most-traded oil benchmark. All crude oil, regardless of grade, is HS 2709.00.10 or .00.90 depending on API.
Sample 6-digit codes
| Code | Description |
|---|---|
| 2709.00 | Petroleum oils and oils obtained from bituminous minerals, crude |
Typical import duty by market
| Market | Duty |
|---|---|
| European Union | 0% |
| United States | USD 0.05-0.10 / bbl Oil Spill Liability Trust Fund fee. |
| China | 0% Plus VAT 13% and consumption tax on refined product. |
| India (BCD) | 0% Plus cess ~USD 1/bbl. |
Numerical Example: 700,000 bbl VLCC-lot Forties, FOB Hound Point USD 82.50/bbl, CIF Ningbo
700,000 bbl VLCC-lot Forties, FOB Hound Point USD 82.50/bbl, CIF Ningbo. Run your own numbers in the Import Duty & Tax calculator.
- · Platts dated Brent methodology - eBBL platform.
- · ICE Brent futures - 1,000 bbl contracts, cash-settled to ICE Brent Index.
- · MARPOL Annex I for tanker transport.
- · OPA 90 for US waters; Certificate of Financial Responsibility (COFR).
- · Norway (Ekofisk, Oseberg)
- · United Kingdom (Forties)
- · United States (WTI Midland into basket)
Frequently asked questions
North Sea production has declined to ~600 kbd. Adding WTI Midland (~40 API, low sulphur) at 3% premium/discount kept the physical basket liquid enough to underpin the world benchmark. Cargoes must meet quality specs and be delivered via approved terminals.
Import duty and tax by destination market
Typical MFN duty, consumption tax and the tax base applied to energy (HS 2709.00) in each market we cover. Rates are indicative at the 6-digit line | confirm the national 8/10-digit code with your broker.
| Market | Duty | Consumption tax | Tax base | Tax as % of CIF |
|---|---|---|---|---|
| India | 5% | IGST 18% | Assessable value + duty | 24.1% |
| United Arab Emirates | 0% | VAT 5% | CIF + duty | 5.0% |
| Saudi Arabia | 0% | VAT 15% | CIF + duty | 15.0% |
| Singapore | 0% | GST 9% | CIF + duty | 9.0% |
| China | 0% | VAT 13% | CIF + duty | 13.0% |
| United States | 0% | Federal VAT 0% | CIF | 0.3% |
| United Kingdom | 0% | VAT 20% | CIF + duty | 20.0% |
| Germany | 0% | USt 19% | CIF + duty | 19.0% |
| Netherlands | 0% | BTW 21% | CIF + duty | 21.0% |
| Vietnam | 0% | VAT 10% | CIF + duty | 10.0% |
| Türkiye | 0% | KDV 20% | CIF + duty | 20.0% |
| Japan | 0% | JCT 10% | CIF + duty | 10.0% |
| South Korea | 0% | VAT 10% | CIF + duty | 10.0% |
| Brazil | 0% | IPI+PIS/COFINS+ICMS 32% | CIF + duty | 32.0% |
| Indonesia | 0% | PPN 11% | CIF + duty | 13.5% |
| Mexico | 0% | IVA 16% | CIF + duty | 16.9% |
| Egypt | 0% | VAT 14% | CIF + duty | 14.0% |
| Nigeria | 0% | VAT 7.5% | CIF + duty | 9.1% |
| South Africa | 0% | VAT 15% | Assessable value + duty | 16.5% |
| Australia | 0% | GST 10% | CIF + duty | 10.0% |
Run your own numbers with the landed cost calculator or check documentation requirements in the LC document checklist.