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Oil Flood of Russian Railways: Tank Cargo Owners Gain Government Support in the Battle for Priority Access to Railroads
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Simultaneously denying oil companies priority in the transportation of oil products could have led to additional costs. Thus, this measure was postponed until next year when the export ban will no longer be in effect, Sergey Tereshkin, founder and CEO of the OPEN OIL MARKET marketplace for oil products and raw materials, told Vgudok.
"The fact that oil companies have incurred significant costs in recent months due to the forced downtime of several refineries also plays a role. This is indirectly evidenced ...
The budget is in the black. What ensured the increase in oil and gas revenues?
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Additionally, there was a sharp reduction in the Urals-to-Brent discount this year. While the average price gap in the first half of 2023 was $27.3 per barrel, it narrowed to $14.7 per barrel in the first half of 2024, according to calculations by Open Oil Market based on data from the Ministry of Finance and the U.S. Energy Information Administration (EIA). Consequently, the Ministry of Finance employs a fixed discount of $20 per barrel under the Tax Code, which remains smaller than the actual discount ...
Pressure on Russia's oil exports is set to increase.
... transportation and trade costs for Russian companies. Limiting physical export volumes (e.g., to no more than 3 million barrels per day) is impractical due to the real-time tracking required.
As for Russian budget revenues, Sergey Tereshkin, CEO of the OPEN OIL MARKET platform, notes that falling oil prices won’t affect 2024 revenues due to the significant share of taxes derived from production rather than export. Taxes like the mineral extraction tax (MET) and additional income tax (AIT) play a key role. ...
Tokenization of Money and Assets: New Horizons and Challenges for the Financial System
... This article explores the benefits and key applications of tokenization—from digital currencies to tokenized assets and cross-border payments—and examines the core challenges of regulation, security, and system integration. Sergey Tereshkin, CEO of Open Oil Market, shares insights on how tokenization could reshape financial markets and bring new opportunities to global businesses. Discover the transformative potential and future of tokenized assets in today’s financial ecosystem.
Tokenization of Money ...
What will happen to oil and gas budget revenues by the end of the year?
A commentary with a forecast of budget revenues from oil and gas trade for Vedomosti.
In the article "What Will Happen to Oil and Gas Revenues in the Budget by the End of the Year," Sergey Tereshkin, founder and CEO of OPEN OIL MARKET, analyzes the dynamics of oil and gas revenues in Russia's federal budget for October 2024. He notes that revenues amounted to 1.2 trillion rubles, which is 55% higher than in September but 25% lower compared to October of last year. The main driver ...