The Federation Council approved the return of damper payments to oil workers – Kommersant

The Federation Council approved amendments that return the previous procedure for calculating damper payments for oil workers from October this year. Amendments contributed government within the framework of the budget-forming law for the next three years.

Since September, the damper has been adjusted, resulting in payments being reduced by 50%. Due to the increase in exchange prices for fuel, it was decided to return the previous coefficient. Thus, from October 1, 2023, a coefficient of 1 will be introduced instead of 0.5.

In addition, the amendments establish a mechanism for calculating prices for Russian Urals oil when determining the mineral extraction tax (MET). It is proposed to calculate the price of oil based on the arithmetic average of the price for deliveries to the ports of the north-west and south of Russia, increasing it by the price of transportation by sea to Rotterdam and Mediterranean ports. The cost of transportation is calculated in the manner established by the FAS; it must be at least $2 per barrel.

The amendments also introduce a reduction in the projected discount on Urals to Brent when calculating taxes from $20 to $15 in 2024, to $10 in 2025 and to $6 in 2026, allowing the government, if necessary, to increase the discount within $20 per barrel. Today the Federation Council also approved increasing Gazprom’s mineral extraction tax on condensate and gas.

According to Reuters, thanks to these amendments, about 0.4 trillion rubles will be spent on damper payments to oil refiners in January 2024. from the budget. Due to reduced taxes on oil production, the budget will lose another 0.35 trillion rubles.

Read more in the Kommersant article. “Gazprom is always alone”.

Anastasia Larina