The Russian government may introduce quotas for the export of petroleum products

Russian Deputy Prime Minister Alexander Novak, during a meeting on the fuel market, admitted that the Cabinet of Ministers could introduce quotas for the export of petroleum products. According to him, the oil industry must respect the priority of gasoline supplies to the domestic market, and not for export.

“Representatives of oil companies and state authorities discussed tools for stabilizing the volume of automotive fuel supplies to the domestic market and preventing its shortage. The Deputy Prime Minister instructed to respect the priority of gasoline supplies to the domestic market, even in a situation where export seems more profitable,” the statement says. message government.

In addition, during the meeting, Mr. Novak supported an increase in the standard for sales of gasoline on the stock exchange to 13% and said that the Ministry of Energy, together with the Federal Antimonopoly Service of Russia, would have to take measures to prevent gray exports of petroleum products.

According to Kommersant, oil companies increased deliveries of gasoline to the domestic market in June amid the completion of repairs at refineries, but they are still 6.5% less year-on-year. The continuous rise in wholesale gasoline prices this year is prompting regulators to intervene verbally and threaten oil companies with antitrust cases. In addition, the government has tightened fuel export rules to reduce gray exports. While managed to achieve stabilization of prices on the stock exchange, analysts say.

Read more in the material “Kommersant” “Gasoline told to go inside”.

Alexander Kislov