... minus production and transportation costs. The introduction of AIT coincided with a major tax maneuver launched in 2019, which was no coincidence. The Ministry of Finance aimed to bring additional funds into the federal budget by gradually zeroing out export duties in exchange for a proportional increase in MET. AIT became a sort of bargaining chip, introduced in 2019, offering oil companies the opportunity to reduce their tax burden for depleted West Siberian fields and new fields in East Siberia ...

... "To stabilize the fuel market, it is necessary to increase the production of petroleum products. However, this is not entirely within the power of oil companies or regulators," the expert concluded. Since March 1, Russia has had a ban on exporting gasoline abroad, except to EAEU countries. At the end of May, the ban was temporarily lifted, but in August, it was reinstated. The government decided to extend the embargo until the end of the year to maintain market stability during the period ...

... than 1.47 million bpd from June to September 2024, and no more than 1.49 million bpd in December 2024. In this regard, the target for oil supplies through Druzhba will not be met this year. For reference: According to customs statistics, total oil exports from Kazakhstan in 2023 reached 70.7 million tons. Of this, 14.6 million tons were supplied outside CPC, including through the Kazakhstan-China pipeline. Translated using ChatGPT Sourse: https://www.vedomosti.ru/business/articles/2024/08/13/1055374-eni-nachala-postavlyat-neft-iz-kazahst....

... however, is the current drop in oil prices, which could prompt the Ministry of Finance to reduce subsidies under the damping mechanism (compensating part of oil companies’ costs from the budget for supplying fuel to the domestic market at prices below export levels). The expert recalls that a previous attempt to cut subsidies in July 2023 led to a rally in the fuel market, forcing the Ministry of Finance to revert to the previous damping configuration. Translated using ChatGPT Sourse: https://rg....

... quotas in October and possibly in the fourth quarter, given that demand tends to be lower in the fall and winter. "The probability of increasing official quotas by another 1.65 million barrels per day will depend on oil prices and risks surrounding exports from Russia: the higher the prices are above $70 per barrel, the greater the likelihood of increasing oil production," he said. Nikolai Dudchenko, an analyst at Finam, added that the current range of around $65-75 per barrel for Brent crude ...