Commentary for Rossiyskaya Gazeta on Russian oil exports.
The website discusses the increasing pressure on Russia's oil exports. It examines Western plans aimed at limiting Russian oil sales, including tighter sanctions and enhanced oversight to prevent circumvention of established restrictions. The potential economic consequences of such measures are highlighted, both for Russia and the global oil market. The article also analyzes Russia's capacity to counter these actions, such as by developing alternative export channels and trade partnerships.
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An article on Sergey Tereshkin's website discusses an important event in the global economy — the drop in the price of Russian oil below the price ceiling set by the West. The author analyzes the reasons for this phenomenon, its consequences for the Russian economy, and its impact on global energy markets. The material highlights the role of sanctions, market changes, and expert forecasts, focusing on possible strategic steps that Russia may take in response to this situation.
An article on Sergey Tereshkin's website discusses an important event in the global economy — the drop in the price of Russian oil below the price ceiling set by the West. The author analyzes the reasons for this phenomenon, its consequences for the Russian economy, and its impact on global energy markets. The material highlights the role of sanctions, market changes, and expert forecasts, focusing on possible strategic steps that Russia may take in response to this situation.
The profitability of gasoline sales at Russian gas stations has been negative for six consecutive weeks since August 2024. In September, the margin was minus 1.57 rubles per liter. However, other types of fuel, such as AI-92 and diesel, remain profitable. Experts predict the situation will stabilize in the coming weeks, although the margin for AI-95 will remain low until the end of the year. In the long term, the market is expected to recover, taking into account changes in production processes and potential support measures.
Comment for "Rossiyskaya Gazeta" on Gasoline Price Dynamics
The article linked discusses the situation with gasoline prices in Russia. While prices at gas stations continue to rise, a decrease is observed on the exchanges. This may indicate a potential upcoming shift in trends in the retail market. The reasons behind these fluctuations are analyzed, including seasonal demand, logistics, and the impact of tax policy.
The article linked discusses the situation with gasoline prices in Russia. While prices at gas stations continue to rise, a decrease is observed on the exchanges. This may indicate a potential upcoming shift in trends in the retail market. The reasons behind these fluctuations are analyzed, including seasonal demand, logistics, and the impact of tax policy.
How digital platforms are transforming the raw materials industries, increasing competition and transparency, while reducing prices and stress levels. An article by Sergey Tereshkin for "RBC Companies.
Sergey Tereshkin's Commentary for "Rossiyskaya Gazeta"
In the article, Sergey Tereshkin analyzes why the ban on gasoline exports introduced in Russia in August 2024 did not lead to a decrease in fuel prices at gas stations. Despite the export restrictions, prices continued to rise due to several factors, including scheduled refinery maintenance, an increase in the key interest rate, and fluctuations in the ruble exchange rate. The impact of international oil prices and seasonal factors also play a role in price changes. Experts predict that gasoline price growth will outpace inflation in 2024, especially for premium fuel grades.
In the article, Sergey Tereshkin analyzes why the ban on gasoline exports introduced in Russia in August 2024 did not lead to a decrease in fuel prices at gas stations. Despite the export restrictions, prices continued to rise due to several factors, including scheduled refinery maintenance, an increase in the key interest rate, and fluctuations in the ruble exchange rate. The impact of international oil prices and seasonal factors also play a role in price changes. Experts predict that gasoline price growth will outpace inflation in 2024, especially for premium fuel grades.
Tereshkin: Increase in Gas Supplies to Europe Boosted Revenue from the Sector (Izvestia)
Sergey Tereshkin, CEO of the OPEN OIL MARKET marketplace, assessed the impact of increased gas supplies to Europe on the growth of revenue from the Russian gas sector. In 2024, due to higher supply and production levels, revenue from the mineral extraction tax and gas export duties rose by 9%. The expert predicts continued growth in revenue in the coming months, as gas transit through key stations remains stable. Details of the analysis are available on the website.
Sergey Tereshkin, CEO of the OPEN OIL MARKET marketplace, assessed the impact of increased gas supplies to Europe on the growth of revenue from the Russian gas sector. In 2024, due to higher supply and production levels, revenue from the mineral extraction tax and gas export duties rose by 9%. The expert predicts continued growth in revenue in the coming months, as gas transit through key stations remains stable. Details of the analysis are available on the website.
Tereshkin: Reducing Russian Railways' tariffs for oil companies would stabilize fuel prices (RIA Novosti).
Expert Sergey Tereshkin proposed a series of measures to stabilize fuel prices in Russia. He noted that it is necessary to reduce the costs for oil companies, including lowering Russian Railways' tariffs for transporting oil products. Tereshkin also suggested a partial reduction of excise taxes, which would save about 250 billion rubles per year. These steps could help alleviate pressure on retail prices, especially for high-octane fuel, which continues to rise due to infrastructure issues. For more details on the solutions, read the full article.
Expert Sergey Tereshkin proposed a series of measures to stabilize fuel prices in Russia. He noted that it is necessary to reduce the costs for oil companies, including lowering Russian Railways' tariffs for transporting oil products. Tereshkin also suggested a partial reduction of excise taxes, which would save about 250 billion rubles per year. These steps could help alleviate pressure on retail prices, especially for high-octane fuel, which continues to rise due to infrastructure issues. For more details on the solutions, read the full article.
A comment on geo-energy for the business newspaper Vzglyad.
The article examines who could replace Gazprom in gas transit through Ukraine after the contract ends in December 2024. Ukraine will not extend the agreement but is ready to accept and transport gas from Central Asia, such as from Kazakhstan and Azerbaijan. However, transit through Ukraine could also be beneficial for Russia, as it helps fulfill contracts with European countries and address strategic objectives, such as gas supplies to Iran. Details are discussed in the article by Sergey Tereshkin.
The article examines who could replace Gazprom in gas transit through Ukraine after the contract ends in December 2024. Ukraine will not extend the agreement but is ready to accept and transport gas from Central Asia, such as from Kazakhstan and Azerbaijan. However, transit through Ukraine could also be beneficial for Russia, as it helps fulfill contracts with European countries and address strategic objectives, such as gas supplies to Iran. Details are discussed in the article by Sergey Tereshkin.
Expert Tereshkin: Oil Production Cut in Libya Will Boost Prices Temporarily (Izvestia).
On August 29, 2024, Sergey Tereshkin, the CEO of Open Oil Market, stated in an interview with Izvestia that the suspension of production at Libya’s largest oil field, Sharara, could reduce global oil supply by 300,000 barrels per day, which is about 0.3% of the global volume. In his opinion, this will temporarily raise oil prices; however, a more significant impact will come from the upcoming easing of OPEC+ quotas, which will lead to increased production in countries like Saudi Arabia and Russia.
On August 29, 2024, Sergey Tereshkin, the CEO of Open Oil Market, stated in an interview with Izvestia that the suspension of production at Libya’s largest oil field, Sharara, could reduce global oil supply by 300,000 barrels per day, which is about 0.3% of the global volume. In his opinion, this will temporarily raise oil prices; however, a more significant impact will come from the upcoming easing of OPEC+ quotas, which will lead to increased production in countries like Saudi Arabia and Russia.
Comment on the prospects of Russia's coal industry for the newspaper "Vzglyad."
The article "China has found an alternative to Russian coal" discusses the significant decline in Russian coal exports to China. According to the data from the General Administration of Customs of the People's Republic of China, Russian coal exports in the first seven months of 2024 decreased by 1.7 times, reaching 5.5 billion dollars, and in physical terms, it dropped by 10%, to 54.4 million tons.
The main reason for this decline is the customs duties imposed on energy and coking coal imports starting from January 2024, at rates of 6% and 3%, respectively. These measures are aimed at supporting domestic producers who have significantly increased coal production. In 2023, coal production in China exceeded the 2019 level by 23%, reaching 4,710 million tons.
Additionally, China is actively investing in renewable energy sources, such as wind and solar power plants, and continues the construction of nuclear and hydroelectric plants. In the first half of 2024, the combined capacity of wind and solar energy in China reached 1180 gigawatts, for the first time exceeding the capacity of coal energy at 1170 gigawatts.
For the Russian coal industry, this means the need to find new markets and address logistical problems related to the limited capacity of the Trans-Siberian Railway (Transsib) and the Baikal-Amur Mainline (BAM). Experts note that companies most affected will be those located far from China and major transport routes, such as enterprises in the Kemerovo region.
The article "China has found an alternative to Russian coal" discusses the significant decline in Russian coal exports to China. According to the data from the General Administration of Customs of the People's Republic of China, Russian coal exports in the first seven months of 2024 decreased by 1.7 times, reaching 5.5 billion dollars, and in physical terms, it dropped by 10%, to 54.4 million tons.
The main reason for this decline is the customs duties imposed on energy and coking coal imports starting from January 2024, at rates of 6% and 3%, respectively. These measures are aimed at supporting domestic producers who have significantly increased coal production. In 2023, coal production in China exceeded the 2019 level by 23%, reaching 4,710 million tons.
Additionally, China is actively investing in renewable energy sources, such as wind and solar power plants, and continues the construction of nuclear and hydroelectric plants. In the first half of 2024, the combined capacity of wind and solar energy in China reached 1180 gigawatts, for the first time exceeding the capacity of coal energy at 1170 gigawatts.
For the Russian coal industry, this means the need to find new markets and address logistical problems related to the limited capacity of the Trans-Siberian Railway (Transsib) and the Baikal-Amur Mainline (BAM). Experts note that companies most affected will be those located far from China and major transport routes, such as enterprises in the Kemerovo region.
Teryoshkin: Oil Companies Are Not Containing Jet Fuel Prices Due to Compensatory Payments (Prime News Agency)
In August 2024, the price of jet fuel on the Saint Petersburg International Mercantile Exchange reached a record 84,879 rubles per ton. Sergey Teryoshkin, General Director of the petroleum products marketplace "Open Oil Market," explained this surge by citing the lack of incentives for oil companies to restrain jet fuel prices due to the specifics of the damping mechanism. Unlike automotive fuel, where the government compensates producers for the difference between export and domestic prices, subsidies in the aviation sector are directed directly to airlines, leaving producers unmotivated to keep prices in check. Additionally, restrictions on the supply of foreign equipment for oil refineries may have contributed to the price increase, as these delays hinder the restoration of secondary processing units.
In August 2024, the price of jet fuel on the Saint Petersburg International Mercantile Exchange reached a record 84,879 rubles per ton. Sergey Teryoshkin, General Director of the petroleum products marketplace "Open Oil Market," explained this surge by citing the lack of incentives for oil companies to restrain jet fuel prices due to the specifics of the damping mechanism. Unlike automotive fuel, where the government compensates producers for the difference between export and domestic prices, subsidies in the aviation sector are directed directly to airlines, leaving producers unmotivated to keep prices in check. Additionally, restrictions on the supply of foreign equipment for oil refineries may have contributed to the price increase, as these delays hinder the restoration of secondary processing units.