... accounted for 6% of subsidies to refineries, including the damping and reverse excise (105.8 billion rubles out of 1899 billion rubles). The problem is that sanctions on equipment supplies for ORFs have significantly complicated the modernization of Russian oil refining. Therefore, extending the investment surcharge means prolonging subsidies. At the same time, according to the expert, the measures mentioned are still under discussion and may be revised multiple times, including due to the significant federal ...

... increased by 0.9% between August 20 and 26. "This is due to damage to refinery infrastructure and the 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,...

... practice, the experiment succeeded: AIT became a kind of "shock absorber," helping oil companies adapt to new conditions after 2022. Similar mechanisms, allowing for tax burden adjustments depending on profitability, should also be extended to oil refining. There, companies face rising costs due to extended timelines for unscheduled repairs. Sergey Tereshkin, CEO of the OPEN OIL MARKET marketplace for petroleum products and raw materials. Translated using ChatGPT

... even replaced Russian products in the European market," says Igor Yushkov, an expert at the Financial University under the Government of the Russian Federation and the National Energy Security Fund (FNEB). India does buy the ultra-light low-sulfur oil from the U.S., but for its refining, it needs to be blended with heavier grades of oil, including Russian, the expert adds. This means that regardless of political agreements at the U.S. and India level, there are technical and economic specifics: Indian refineries simply do not ...

... reached 196 billion rubles in the first 11 months of 2024. However, the issue is that, since 2022, modernization of Russian refineries has faced significant challenges. The European Union and Japan imposed sanctions on the supply of equipment for oil refining, making it more difficult for companies receiving the investment surcharge to fulfill their obligations for technical upgrades. Under current regulations, refineries receiving this subsidy must commission facilities worth at least 50 billion ...