29.01.2025, 10:56
In Russia are going to extend the permit for the export of gasoline
Source: OREANDA-NEWS
OREANDA-NEWS The Russian government is going to extend the gasoline export permit for a month in the near future, until February 28. This was reported by Kommersant with reference to a source familiar with the situation.
Within two weeks, the Ministry of Energy must submit proposals to the Cabinet of Ministers on maintaining fuel supplies abroad, taking into account the new conditions. The decision should help oil companies partially compensate for losses from the latest US sanctions imposed on January 10 by the administration of President Joe Biden.
Last year, a ban on the export of gasoline outside the country was introduced on March 1. It was supposed to be in effect until the end of August, but from May 20 to July 31, restrictions were lifted, and then gradually extended immediately until the end of the year. However, at the end of November, the government lifted the ban, allowing gasoline exports until January 31.
Oil companies faced severe restrictions in the supply of raw materials after more than 180 vessels involved in operations were placed on the US sanctions lists. Tankers had difficulties unloading and returning for new shipments, and freight rates on free vessels soared several times.
Against this background, manufacturers want to maximize domestic processing in order to ship oil products abroad, which have weaker restrictions and higher prices.
At the same time, Maxim Dyachenko, managing partner of the Proleum trader, warned that fuel supplies to the stock exchange are decreasing this week, which leads to excessive demand and a sharp increase in prices. In his opinion, the reason was the resumption of drone attacks on oil refineries, and if the current trend continues, then extending gasoline exports will turn out to be a risky decision.
Within two weeks, the Ministry of Energy must submit proposals to the Cabinet of Ministers on maintaining fuel supplies abroad, taking into account the new conditions. The decision should help oil companies partially compensate for losses from the latest US sanctions imposed on January 10 by the administration of President Joe Biden.
Last year, a ban on the export of gasoline outside the country was introduced on March 1. It was supposed to be in effect until the end of August, but from May 20 to July 31, restrictions were lifted, and then gradually extended immediately until the end of the year. However, at the end of November, the government lifted the ban, allowing gasoline exports until January 31.
Oil companies faced severe restrictions in the supply of raw materials after more than 180 vessels involved in operations were placed on the US sanctions lists. Tankers had difficulties unloading and returning for new shipments, and freight rates on free vessels soared several times.
Against this background, manufacturers want to maximize domestic processing in order to ship oil products abroad, which have weaker restrictions and higher prices.
At the same time, Maxim Dyachenko, managing partner of the Proleum trader, warned that fuel supplies to the stock exchange are decreasing this week, which leads to excessive demand and a sharp increase in prices. In his opinion, the reason was the resumption of drone attacks on oil refineries, and if the current trend continues, then extending gasoline exports will turn out to be a risky decision.
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