Russian oil companies received 192.7 billion rubles in October. by damper

Oil companies received 192.7 billion rubles from the budget in October. according to the fuel damper, follows from datapublished on the website of the Russian Ministry of Finance. In October, the companies did not receive payments for September, but in September for August they amounted to a record 298.7 billion rubles.

The damping mechanism assumes that the budget compensates oil companies for part of the difference between the export price of fuel and a fixed indicative domestic price. Moreover, if the average monthly indices in the European part of Russia for AI-92 and diesel fuel deviate from the indicative values ​​by more than 10% for gasoline and 20% for diesel fuel, then oil companies will lose damper payments.

Since September, the damper has been adjusted to stabilize wholesale prices for petroleum products, resulting in payments being reduced by 50%. Due to rising stock prices for fuel, it was decided return previous coefficient. From October 1, the coefficient is 1 instead of 0.5. According to the Ministry of Finance, at the end of nine months of 2023, the total amount of damper payments reached 1.1 trillion rubles, which is 38% less than the same figure for 2022.

Read more about the Russian oil market in the Kommersant article. “Barrels of Discord”.

Milena Kostereva