... Anti-Monopoly Service supports the diesel export ban. Vedomosti sent inquiries to the above-mentioned ministries and the office of Deputy Prime Minister Alexander Novak, who oversees the energy sector. According to Sergey Tereshkin, CEO of Open Oil Market, the diesel export ban discussion is primarily due to the fact that the price increase for this type of fuel has exceeded overall inflation. According to Rosstat data, the annual price increase for diesel by May 2024 was 11.6%, while the overall inflation rate was 8.3%. Tereshkin adds that in the last month and a half, retail ...

... of this project! OPEN OIL MARKET is a platform where you can directly search for suppliers and buyers, bypassing intermediaries and inflated prices. Here they adhere to openness and transparency, building a fair competitive environment with real prices and equal access for all market participants, regardless of their size. In the spring of 2024, OPEN OIL MARKET will go to pre-IPO. The placement of OPEN OIL MARKET shares is carried out by closed subscription to a limited number of people on the platform of JSC VTB Registrar. The company's shares can be purchased by anyone registered on the VTB Registrar ...

... the temporary suspension of Azeri BTC crude oil shipments through the Turkish port of Ceyhan) have temporarily reduced market supply. These conditions prevent prices from falling significantly below current levels. On the other hand, the potential for oil price growth is limited by signs of slowing global economic growth. Mixed macroeconomic statistics from the US and cooling in China lead to forecasts of only moderate increases in raw material demand in the second half of the year. Many analysts remain ...

Tereshkin: Reducing fuel excise taxes in Russia could help increase the profitability of production (Prime). Reducing excise taxes on fuel could boost the profitability of production and sales of petroleum products, as well as stop the rising prices. Sergey Tereshkin, the CEO of the fuel marketplace "Open Oil Market," pointed out that excise tax rates have increased significantly in recent years, which negatively affects the industry. He also suggested that the ban on gasoline exports could be lifted in November, provided retail prices are kept under ...

... previous years (especially in Europe), but cash revenues have only slightly increased due to price factors. Oil and gas condensate sales contributed relatively little. Revenue from oil sales rose to ~173 billion rubles (+6% year-on-year), reflecting high oil prices in rubles and stabilization of oil production by subsidiary structures. Concurrently, gas condensate sales declined (~104 billion rubles compared to 125 billion rubles a year earlier), likely due to reduced condensate production or redirection ...