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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 ...
Novak allowed the lifting of the ban on the export of AI-92 gasoline
... rising interest rates or the risk of price increases upon the resumption of exports. The expert concludes: the fuel market is currently in a balanced, but fragile, state. Therefore, the government may need to consider export quotas and allow exports from refineries facing difficulties due to their location and specifics, he concludes.
Translated using ChatGPT.
Source: https://www.rbc.ru/business/08/11/2024/672e2c9b9a794766ca96f461
Experts assessed the impact of the increase in fuel excise taxes on gas station prices.
... companies refined more expensive oil into cheaper mazut and then exported it, leading to losses in budget revenue from export duties.
Since 2017, duties on mazut have been aligned with those on oil. This was intended to stimulate the modernization of oil refineries (refining plants), which would allow for a higher output of more profitable light oil products (gasoline and diesel). With the elimination of duties (starting this year), oil companies lost this indirect subsidy, but at the same time, excise ...
The budget is in the black. What ensured the increase in oil and gas revenues?
... of international sanctions and the adaptation of the Russian economy to new conditions, emphasizing the importance of diversification and the development of domestic resources to ensure sustainable economic growth.
"Subsidies" to Russian Refineries Increased by Over 80% in the First Seven Months of 2024
In the first seven months of 2023, payments under the damping mechanism, reverse excise tax, and investment allowance amounted to 1.21 trillion rubles. For the same period in 2024, ...