Russian Deputy PM: Fuel Market Challenging but Controlled

MOSCOW, June 23. /TASS/. The situation in the Russian fuel market is challenging yet controlled, Deputy Prime Minister Alexander Novak said at the meeting of President Vladimir Putin with Cabinet ministers.

TASS collects key statements of the deputy prime minister.

Situation in Russian fuel market

The situation in the Russian fuel market is "indeed challenging but controlled," Novak said. The Cabinet is using reserves not engaged earlier.

Adopted and prepared support measures

"A package of measures was developed aimed at providing additional fuel supplies, especially now, in the summer season, considering higher demand for oil products," Novak said.

Russian authorities are considering introduction of a full ban on diesel fuel exports.

The Cabinet has prepared and will consider legislative amendments to stimulate fuel supplies to the Russian market in coming days, Novak added.

Operations of oil companies

Vertically integrated oil companies currently "shoulder the main burden of providing fuel to the domestic market," the official said.

Russian oil companies maximized fuel production and supplies "to regions, including those where retail sites owned by vertically integrated oil companies are either missing or present in small numbers, and help jobbers."

Scheduled turnarounds at Russian refiners were postponed to later periods. "The Energy Ministry exercises stringent control over these schedules and optimizes the terms on a going basis," Novak added.