10 Jul 2023 19:51

Energy Ministry, FAS have until Aug 3 to elaborate petroleum product export quotas

MOSCOW. July 10 (Interfax) - The Russian Energy Ministry and Federal Antimonopoly Service (FAS) have until August 3 to elaborate the issue of petroleum product export quotas.

The corresponding order is contained in the minutes from a meeting with Deputy Prime Minister Alexander Novak on the fuel market on June 30, sources familiar with the document told Interfax.

The ministry and FAS also have until August 3 to determine further measures to prevent gray exports of petroleum products and, if necessary, draft the appropriate government resolution.

Regulators also need to draft proposals for increasing the amount of oil products sold in exchange trading and making such sales uniform and regular.

The Energy Ministry and FAS are supposed to adopt a joint order to increase required sales of gasoline and diesel fuel on the exchange by 1%, and to provide proposals for possibly raising the requirement for gasoline to 15%. They are supposed to report to the government on this by July 25.

Relevant government agencies were given until August 3 to coordinate on an even schedule for oil refinery repairs in order to ensure stable oil product supplies to the domestic marketing during the maintenance period.

The Energy Ministry, FAS, Central Bank and Russian Fuel Union are supposed to present proposals by August 3 for reducing the operating costs of filling stations, including by cutting the cost of acquiring services or using the Express Payment System.

Problems concerning oil product shipments by railway were also discussed at the meeting with Novak. Stakeholders are supposed to determine priority issues with "acute" socioeconomic importance and prepare proposals to resolve them by July 14 for consideration at a government meeting.