HS Code for WTI Crude Oil (HS 2709.00)
WTI is ~40 API, 0.24% sulphur - a light sweet grade. NYMEX WTI futures settle physical at Cushing OK. WTI Midland (produced in the Permian) and Magellan East Houston (MEH) are the two export-grade specifications shipped from US Gulf Coast.
Sample 6-digit codes
| Code | Description |
|---|---|
| 2709.00 | Petroleum oils, crude |
Typical import duty by market
| Market | Duty |
|---|---|
| European Union | 0% |
| China | 0% |
| India (BCD) | 0% |
| South Korea | 0% FTA partner. |
Numerical Example: 2,000,000 bbl VLCC WTI Midland, FOB LOOP USD 78.30/bbl, CFR Ulsan Korea
2,000,000 bbl VLCC WTI Midland, FOB LOOP USD 78.30/bbl, CFR Ulsan Korea. Run your own numbers in the Import Duty & Tax calculator.
- · NYMEX WTI futures - 1,000 bbl per contract, physical delivery Cushing OK.
- · Platts Dated WTI Midland assessment for FOB Corpus Christi/Houston.
- · US Bureau of Industry and Security - crude export licence not required post-2015 ban lift.
- · MARPOL Annex I / OPA 90.
- · United States (Corpus Christi, Houston, LOOP)
Frequently asked questions
Louisiana Offshore Oil Port is the only US terminal that can fully load a VLCC (2 million bbl). Corpus Christi handles Aframax and partial-lift Suezmax reverse-lightering to VLCC in the Gulf. LOOP direct loading saves USD 1-2/bbl in reverse lightering costs on Asia arb cargoes.
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.