Russia's oil companies will not receive damper payments for the first time due to high exchange prices for fuel in September

MOSCOW. Nov 3 (Interfax) - Oil companies will not receive payments from the budget for the fuel damper for September; the corresponding accrual column shows "zero" in the materials on the formation and use of additional oil and gas revenues of the federal budget posted on the Russian Finance Ministry's website.

As reported, oil companies will not receive a fuel damper from the budget for September, since that month's average exchange prices for petroleum products were much higher than the cut-off, after which the damper is reset to zero. The estimated unpaid September damper was 145 billion rubles.

In August, oil companies received the highest amount since the last damper adjustment - 298.7 billion rubles.

Industry experts say that, the October damper could range from 255 billion rubles to 291 billion rubles if it is calculated with a coefficient of 1.

In early October, the government press service announced that a decision had been made to amend the Tax Code and restore the size of the fuel damper as of October 1, changing its coefficient from 0.5 to 1.0 (In September this coefficient was reduced from 1.0 to 0.5). However, to date, no legislative decision has been made to change the damper.