3 Apr 2024 10:36

Novak instructs Russian oil companies to prioritize domestic fuel supplies

MOSCOW. April 2 (Interfax) - Russian Deputy Prime Minister Alexander Novak instructed oil companies to give priority to fuel supplies for the domestic market, the Russian government said in a statement following a meeting with a special management group on the domestic petroleum products market situation.

The meeting was attended by heads of oil companies, representatives of the Ministry of Energy, the Federal Antimonopoly Service, the Ministry of Agriculture, Russian Railways and the St. Petersburg International Commodity Exchange (SPIMEX). The participants discussed the balance of supply and demand for different types of automobile fuel, schedules for shutting down refineries for maintenance, as well as pricing policy in large and small wholesale and at the pump.

The Ministry of Energy reported that gasoline and diesel fuel reserves remain consistently high. Oil company representatives noted an improvement in the situation regarding Russian Railways' fuel shipments from refineries.

Novak also instructed the Ministry of Energy, the Federal Antimonopoly Service and the Ministry of Agriculture to analyze the pricing offered by intermediaries who sell diesel to farmers in various regions in order to maintain a stable level of supply.