FAS will forbid oil companies to sell oil products to their own structures on exchange

Galiya Nabieva

UFA, 19 September 2017. /Bashinform News Agency, Galiya Nabieva/. The Federal Antimonopoly Service plans to stop a scheme by which large oil companies sell petroleum products through the exchange to their own structures. According to the estimates of the agency, such transactions amount to 2 to 10% of monthly trades, Izvestia reports. The ban can increase the growth of exchange supplies, and in the long run reduce the average cost of fuel at auction.

"Such transactions are, in fact, fictitious and can hardly be considered as exchange trades. Once we finish discussing the amendments to our joint (with the Ministry of Energy) decree and approve it, it will give an increase in sales to the market by at least 10% and will restrain the cost of fuel from growth" the head of the FEC department FAS Dmitry Makhonin told Izvestia.

The corresponding amendment is still under discussion in the Ministry of Energy and will come into effect by the end of the year.

It is reported that oil companies are opposed to the FAS proposal and prepare negative conclusions. Since 2015, they have a hard constraint for minimum monthly sales on the exchange. For gasoline, it is at least 10% of the total fuel produced, and for the diesel - only 5%. According to the president of the Russian Fuel Union Eugeny Arkusha, the largest suppliers sell up to 20% of the total stock volume either to each other or to their daughter companies.

#fas #fuel #trades

Join us for more and faster updates on our social media.:

Rubrics

Phone

Office: +7(347) 250-05-07 Advertising office: +7(347) 250-11-11 Editors office: +7(347) 250-07-28 Cooperation: +7(347) 250-06-14

inf@bashinform.ru

Address

450077, Ufa, Kirov street, 45

© 1992-2026 Bashinform News Agency JSC. Mass Media Registration Certificate No. TU 02-01609 dated September 25, 2017, issued by the Office of the Federal Service for Supervision of Communications, Information Technology and Mass Media for the Republic of Bashkortostan.

All information and content posted on the website www.bashinform.ru are protected by international and Russian copyright and related rights legislation. All reports by the Bashinform News Agency are intended for users over 18 years of age.

When reprinting or quoting, a reference to Bashinform News Agency is mandatory. For online publications and social media, a direct active hyperlink is required. Using the Bashinform News Agency logo for purposes not related to the agency when reprinting or quoting is permitted only with the written permission of JSC Bashinform News Agency.