Obligatory requirements for oil companies on sale of petrol and diesel on the stock exchange will be increased to 11% and 7.5% of production, respectively. For this level of sales was made by the Ministry of energy, FAS pressed for more significant raising of standards, which now make up 10% of gasoline and 6% for diesel fuel. Furthermore, regulators agreed on the lifting of the temporary ban on the import of fuel to Russia, which is valid until Oct— however, this decision still must be approved by the government and the agencies of the EEU.FAS and the Ministry has agreed to increase the amount of required oil companies to fuel sales on the stock exchange SPIMEX, said in a joint release from the regulators. Now, the oil companies will be obliged to sell on the exchange not less than 11% and 7.5% of the produced gasoline and diesel fuel, respectively. In addition, the Agency agreed “on the necessity of expanding duties for oil products sales in established volumes on all refiners (not just for those who occupy a dominant position)”. That is, the obligation will apply not only to “Rosneft”, LUKOIL and “Gazprom oil” but also to TANECO, Khabarovsk refinery Antipinsky oil refinery etc. Also, the energy and the FAS decided to impose penalties for oil companies for not complying with the regularity and uniformity of sales in sale of petroleum products on the exchange, said in the release. The adoption of amendments to the joint order will be formalized in the near future.The question of raising the standards of fuel sales on the exchange were discussed June 30 at a meeting with Deputy energy Minister Pavel Sorokin, to raise standards by 1 percentage point offered the Ministry of energy. The FAS insisted on increasing mandatory sales on the exchange to 15% of production for petrol and 9% for diesel fuel. According to the current joint order of FAS and the Ministry of energy, the major oil companies occupying a dominant position on the market— “Rosneft” LUKOIL, “Gazprom oil” — needs to sell on the exchange 10% of the production of gasoline and 6% from production of diesel and jet fuel and oil in appropriate proportions. So, in early July, stock prices almost every day set new records, and the cost of gasoline AI-95 reached 60 thousand rubles per ton, while AI-92 — up to 51 thousand rubles per ton.In addition, the regulators finally agreed and submitted to the government its proposals about the possibility of lifting the ban of oil imports “in connection with the recovery of demand for motor fuel at a level close to the level before the introduction of restrictive measures in connection with the coronavirus infection.” This measure entered into force in June and is valid until October. It was intended to support Russian manufacturers, the demand for products which on the background of the coronavirus fell a few months, and not to allow redirection to Premial��and Russian market of fuel from other countries, primarily from Belarus. The FAS offered ahead of time to remove the moratorium, the Ministry of energy did not exclude this approach, noting that because of the likelihood of a second wave of coronavirus to do it prematurely.However, the proposal for the removal of the prohibition will still be considered by the government, and then the bodies of the EAEC, which the decision may be delayed. So, although the idea of a ban on imports appeared in the beginning of April, actually it was introduced only on June 2 due to procedural formalities.Dmitry Kozlov
