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An expert assessed the risks of a decline in oil prices.
... increase in the cost of oil in ruble terms. Another favorable factor for the budget will be the very structure of oil and gas revenues. According to the Ministry of Finance, in the first 11 months of 2024, 83% of oil and gas revenues (before subsidies to refineries) came from just two taxes: the mineral extraction tax (MET) on oil and the additional income tax (AIT), which accounted for 68% and 15%, respectively," said the source.
The first tax mainly depends on the volume of oil production, while ...
Gasoline prices are still rising at gas stations, but they are already decreasing on the exchange.
... early as next week.
As noted by Sergey Tereshkin, head of the OPEN OIL MARKET fuel marketplace, exchange prices for fuel have only an indirect impact on retail prices. Over 80% of gasoline sales occur in the off-exchange segment—shipments from refineries and oil depots.
Fuel station prices depend more on taxes and oil companies’ costs than on barrel quotes.
Off-exchange wholesale fuel prices generally follow exchange prices with some delay. For retail prices to respond to a decline ...
How to improve the efficiency of the damping mechanism
... the European market, but European prices are still used for calculating subsidies in Russia. Most importantly, this move would acknowledge that the damper is not compensation for export shortfalls, but rather a formula for calculating subsidies for refineries that incur significant costs due to forced downtime. It would be better if this formula were tied to real-life conditions, rather than the European market.
Translated using ChatGPT.
Source: https://companies.rbc.ru/news/8RM1JlEHpd/kak-povyisit-effektivnost-dempfernogo-mehanizma/
What will happen to oil and gas budget revenues by the end of the year?
... lower compared to October of last year. The main driver of revenue growth was an increase in collections under the Additional Income Tax (AIT), which reached 491.6 billion rubles in October. Tereshkin also points to the reduction in subsidies for oil refineries, which contributed to the increase in budget revenues.
According to his forecast, the share of oil and gas revenues in the federal budget for 2024 will remain around 31.7%, but it may decrease to less than 30% next year due to an increase ...
Why is Russia lifting the ban on gasoline exports for only two months?
... saturate the domestic market. Not coincidentally, a few weeks ago, Deputy Prime Minister Alexander Novak mentioned reports of gasoline stockpiling in the domestic market.
Only 10-15% of total gasoline production in the country is exported, but some oil refineries (NPPs) are initially geared towards fuel supply abroad. For them, the export ban was particularly painful.
Stankevich notes that the political and economic situation requires prompt decisions, which explains the limited duration of the "export ...