... when oil prices collapsed. As for extending the application of the investment surcharge on reverse excise duty for oil until January 1, 2033, Tereshkin believes that this measure will support the industry. The investment surcharge is intended for oil refineries (ORFs) whose production of petroleum products accounts for less than 75% of the volume of primary oil processing but who invest in modernizing the refineries. In the first half of 2024, the investment surcharge accounted for 6% of subsidies ...

... annual production of more than 100 million tons of oil. In 2023, Rosneft increased funding to provide the project's transport and energy infrastructure. Refining and export Refinery modernization: Rosneft is actively investing in the modernization of its oil refineries, which allows the company to produce high-quality products and increase their competitiveness in the global market. LNG (liquefied natural gas) projects: The company is developing LNG projects that will increase exports to Asia and Europe. ...

... August. Monitoring Exchange Fuel Sales. Regulators have intensified monitoring of petroleum product trading on exchanges. The Federal Antimonopoly Service (FAS) is considering increasing mandatory sales quotas for fuel through exchanges. Currently, oil refineries are required to sell at least 15% of produced gasoline and 16% of diesel at auction. Experts suggest increasing these norms (for example, to 30–50%) for large refineries, especially in the European part of Russia. The goal is to saturate ...

... resulting reduction in gasoline production. Losses incurred by oil producers from refinery downtime, partly due to sanctions on the supply of oil refining equipment, also play a role: in the first half of the year, the profit and loss balance of Russian refineries fell by 21.3% year-on-year to 1.44 trillion rubles," the expert explained. This pushes oil producers to raise wholesale prices, which subsequently affects retail prices. "Therefore, measures to support oil producers should be complemented by initiatives to reduce costs in the production and distribution of petroleum products. This ...

... about 20% lower than a year ago) have reduced the costs for refiners, allowing them to partially transfer this benefit to end consumers. In parallel with the decline in fuel prices, the situation in U.S. refining has also improved. Spring maintenance at refineries has been completed, and gasoline and diesel production is at a seasonally high level. An additional factor is OPEC+ actions: the upcoming increase in oil production in August will enhance raw material availability and apply downward pressure on global oil prices, indirectly facilitating further reductions in gasoline prices. In other words, the current market situation for oil products in the U.S. ...