April 17 (Bloomberg) -- Kazakhstan, holder of 3.3 percent of the world's oil, will begin taxing crude exports in 30 days to ensure domestic supplies and raise cash amid a tightening on global credit markets.

The government will introduce a duty of $109.91 a metric ton, or about $15 a barrel, on crude exports, according to an order published today in the government's official newspaper. The government had previously planned to introduce the tax at the start of 2009. The initial tax rate is based on an average world oil price in the first quarter of $714 a ton.

The government will also tax exports of liquid fuel, bitumen and bituminous shale at a rate of $82.20 a ton, according to the order.

President Nursultan Nazarbayev, who built Kazakhstan's investor-friendly reputation in the 1990s by attracting companies such as Chevron Corp. and Exxon Mobil Corp., said on April 10 that the oil export tax will generate 170 billion tenge ($1.4 billion) this year for social spending without tapping financial reserves.

Energy Minister Sauat Mynbayev said in a January report that exports of 27.3 million tons of oil, about 40 percent of last year's output, may be taxed.

Oil producers whose contracts contain a set tax level won't pay the new export duty, Industry Minister Vladimir Shkolnik said on April 8. Mynbayev threatened in January to have such contracts renegotiated.

Lower Profit

Chevron's TengizChevroil LLP and Karachaganak Petroleum Operating BV, led by BG Group Plc and Eni SpA, operate under production-sharing agreements in which duties and taxes are fixed at the time of signing.

KazMunaiGas Exploration & Production, a unit of the state oil and gas company, said on April 9 that it may revise its investment plans because of the tax. It estimated the duty could reduce pretax profit by about $800 million a year, while its Kazgermunai and Karazhanbasmunai ventures have customs stability clauses and should be exempt.

If the average oil price exceeds $876 a ton, the tax will rise to $196.03 a ton plus 61.34 percent of every dollar above $876. When the average price per ton is between $876 and $766.5, the tax will be $134.9 plus 55.82 percent of every dollar above $766.5. With an average price of between $766.5 and $657, the tax will be $81.81 a ton plus 48.48 percent of every dollar above $657. Three other tax levels for lower average price ranges were also set.

To contact the reporter on this story: Nariman Gizitdinov in Almaty, through the Moscow newsroom at ngizitdinov@bloomberg.net

Last Updated: April 17, 2008 05:13 EDT