Russian oil cos receive 62.7 bln rubles in fuel damper payments in April, down from 100.3 bln rubles in March

MOSCOW. May 7 (Interfax) - Payments from the Russian budget to oil companies under the fuel damper mechanism amounted to 62.7 billion rubles in April 2025, compared to 100.3 billion rubles in March, according to materials on the formation and use of additional oil and gas revenues published on the Finance Ministry's website.

Damper payments totaled 156.4 billion rubles in January 2025, 148.3 billion rubles in February, 100.3 billion rubles in March and 62.7 billion rubles in April, bringing the total for 4M 2025 to 467.7 billion rubles.

Oil companies received 1.815 trillion rubles from the budget through the damper mechanism in 2024, while they received 1.588 trillion rubles in 2023, 2.171 trillion rubles in 2022 and 674.5 billion rubles in 2021. In 2020, due to market conditions, oil companies contributed 356.6 billion rubles to the budget under the fuel damper. In 2019, the budget refunded 282.2 billion rubles to oil companies through the damper.

The government provides the damper as a subsidy to oil companies to help keep domestic fuel prices stable when export netbacks are high.

Oil companies also got back 113.7 billion rubles excise tax payments on petroleum feedstock from the Russian budget in April, 114.6 billion rubles in March, 162.9 billion rubles in February and 156.5 billion rubles in January. Total payments over the first four months amounted to 547.7 billion rubles.

Payments totaled 1.624 trillion rubles in 2024, 1.173 trillion rubles in 2023, 971.3 billion rubles in 2022, 564.6 billion rubles in 2021, 221.6 billion rubles in 2020 and 142.4 billion rubles in 2019.

Reverse excise tax on oil is a measure to support the oil refining industry. It involves a tax deduction for excise duty on oil depending on the volume of fuel production, the region where a refinery is located, and takes into account refinery upgrades and other elements.