... challenges facing Russia's oil sector, as well as potential ways to adapt the economy to the new conditions. The structure of oil and gas revenues in the Russian budget helps mitigate the risks of a decline in global oil prices, Sergey Tereshkin, CEO of the petroleum product marketplace Open Oil Market, said in a conversation with RIA Novosti. According to him, one of the serious risks to Russia's budget system in 2025 will be a drop in raw material prices. The OPEC+ alliance, at its most recent meeting last week,...

... Russia. These might include immediate maximum tariffs on Russian goods and secondary sanctions against buyers of Russian energy resources. The prospect of such actions keeps market participants on edge, considering the potential risks to global oil and petroleum product supply chains. Thus, at the global level, two opposing trends are currently interwoven: the de-escalation of trade conflicts between major economies on one hand, and the escalation of geopolitical rhetoric on the other. The outcomes of these processes ...

... price discounts. Similarly, significant volumes of LNG are arriving from Qatar, Australia, and through the spot market, bypassing American gas. At the same time, Europe continues to reduce its energy dependence on Russia. Imports of Russian oil and petroleum products into the EU are under embargo, and gas supplies have been reduced to minimal levels. The European Union is actively developing infrastructure to accept LNG and is seeking new long-term contracts with alternate gas suppliers. However, a complete ...

... Chinese companies will push for the electrification of transportation to compensate for losses from declining sales in the U.S., meaning the share of electric vehicles in passenger car sales in China could exceed 70% by 2027, Sergey Tereshkin, CEO of the petroleum product marketplace "Open Oil Market" (a Skolkovo resident), told RIA Novosti. Earlier, U.S. President Donald Trump announced plans to impose an additional 10% tariff on Chinese goods starting February 1 and to sign an order introducing 25% ...

... elimination of export duties were planned to be supplemented by a reduction in excise taxes to offset the cancellation of indirect subsidies to the oil refining industry. This refers to the difference between higher duties on oil and lower duties on petroleum products: for example, duties on automotive gasoline and diesel fuel were 30% of the duty on oil. The difference in duty levels stimulated the export of oil products (mazut, gasoline, diesel fuel) instead of the export of crude oil. Oil companies refined ...