Russian oil companies receive 127.9 bln ruble oil damper from budget in Feb

MOSCOW. March 5 (Interfax) - Payments from the Russian budget to oil companies for fuel dampers in February 2024 totaled 127.9 billion rubles, information on the formation and use of additional oil and gas revenues of the federal budget posted on the Ministry of Finance website said.

Payments reached 146.6 billion rubles in January.

Russian Deputy Prime Minister Alexander Novak said at the end of February that the current fuel damper mechanism is balanced and does not need adjustment. "Now everything is balanced from an economic point of view; the market is secure," he said.

As reported, total payments for the fuel damper in 2023 came to 1.588 trillion rubles, while for 2022, damper payments reached 2.171 trillion rubles. Payments for 2021 reached 674.5 billion rubles, while in 2020, due to market conditions, oil companies paid 356.6 billion rubles in fuel dampers to the budget. The budget paid oil companies 282.2 billion rubles for dampers in 2019.