According to him, now in connection with the expected growth of oil production in August 2020 (after the decision of OPEC+) the authority recommends that the Russian oil refining factories (NPZ) the maximum amount of raw materials to increase production of gasoline and diesel fuel. This will allow you to create inventories for maintenance of a refinery that is guaranteed to pass it without any risk for the consumer.
“Now the dynamics of production and wholesale prices satisfactory. Download primary processing of oil below the level in 2019 only about 5-10%, but the plan for the production of gasoline for July exceeds the amount of the same period last year”, – said Pavel Sorokin. The Deputy Minister said that in March due to falling oil prices, the margins of Russian oil refineries rose strongly, but in may they began to generate losses, even sophisticated and modernized. But now with the gradual growth of the demand for fuel began to improve and the profitability of this business.
To support the Russian oil refinery, the energy Ministry temporarily lowered the standards of the fuel sold through the exchange (now the decision is already made of their return increases from 11% for gasoline and 7.5% for diesel fuel) and introduced a temporary ban on the import of fuel. Sorokin explained that the latter, the consumer could suffer in the time of recovery of demand – import would be reduced naturally with the growth of fuel prices abroad, and Russian refineries would be severely damaged and they could not manage to restore their power simultaneously with the growth of domestic demand.
“Our task was not only to maintain a reasonable price at the gas station, but the processing capacity to recycle was profitable,” – said Sorokin. He said that since July trading volume exceeds the level for July 2019. In addition, it was decided to postpone repairs to the refinery in the autumn. This allowed not only to stabilize the price of gasoline and diesel, but also to start the mechanism of gradual reduction in their wholesale cost as is happening now with diesel fuel.
Answering the question of correspondent of “Rossiyskaya Gazeta” on the possibility of deferring the payment of fuel excise from refineries to gas stations, that is, closer to the end consumer, Sorokin said that the issue is worked out in the Ministry of energy jointly with the Ministry of Finance and the Federal tax service (FTS).
the Measure may provide some support to margins of Russian oil refining. The Deputy Minister explained that the difficulty lies in the mechanism of administration. Refineries in our country, the tens and the gas station tens of thousands. Therefore, difficulties may arise with the calculation of payments on the damper and excise, and tax collection. Although the technical ability to accomplish such a transfer, according to the Deputy Minister, is already there.
