Diesel market balanced, partial opening of exports will be considered in case of overproduction - Russian deputy PM

MOSCOW. Oct 2 (Interfax) - The domestic market for diesel fuel is balanced, and the government will consider partially opening exports in case of overproduction, Deputy Prime Minister Alexander Novak said during a government hour in the Federation Council.

"We are taking all necessary measures so that the market is supplied with all types of petroleum products. As for diesel fuel, today the market is balanced - there is enough fuel. We extended the export ban literally for October. We will monitor the situation, and in case of overproduction of diesel we will consider partially opening exports," Novak said.

"This is a normal situation, since we produce about 80% more diesel than we consume on the domestic market. It is impossible to accumulate significantly more than there is capacity for accumulation, otherwise we will have to reduce processing. And this could negatively affect the output of other in-demand products," he said.

Speaking about the Russian market for automotive gasoline, Novak said that as soon as balance returns to the domestic market, the industry will go back to exporting gasoline. "Right now, our main task is balancing automotive gasolines," he said.

Novak thanked the senators for supporting the bill creating incentives for gasoline imports.

"Our companies ensure the delivery of imported petroleum products; this system is well established, the market will balance out. This measure is temporary. I can note that because our production capacities for producing automotive gasolines are higher than domestic consumption, by about 10%-15%. We will use only our own petroleum products, and we will even return to exporting automotive gasolines, which we always had. This work will continue," he said.