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Domestic Petroleum Product Situation Stabilising: Novak

OIL PRODUCTS

Systematic measures will soon be taken that will have a long-term effect, Russia’s Deputy PM said in a meeting with Vladimir Putin.

  • Following the ban of diesel and gasoline exports Sep. 21, exchange prices have dropped by 16% and 20% respectively, he said.
  • The Russian government is proposing a damper adjustment to account for the difference in exports.
  • Moreover, companies have determined agricultural diesel supply volumes for Sep-Nov.
  • The Russian government is considering a complete ban on the export of products bought rather than produced on the domestic market.
  • To crack down on gray exports, the government is proposing raising export duty for such exporters from 20k to 50k roubles/mt.
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