According to information obtained from the sources of the publication “Kommersant”The government plans to introduce amendments in the State Duma of the Russian Federation on compensation for budget expenses on payments to oil refineries (refineries) for supplies to the domestic market. In September, compensation for the damper mechanism was halved, but it is planned to return to full payments by the end of October.
Most of the dumper costs are planned to be borne by Gazprom by increasing the mineral extraction tax (MET) on gas and gas condensate, since the gas company processes them at the facilities that receive the fuel dumper.
According to the new amendments, the mining tax on gas condensate for Gazprom is proposed to be increased using a new Kkg coefficient, which takes into account surcharges on gasoline and diesel fuel and is used in the mining tax formula for oil. Astrakhan Gas Processing Plant, Surgut Plant and Gazprom Neftekhim Salavat are the largest processors of Gazprom gas condensate for the production of gasoline and diesel fuel. These facilities are provided with a damper, but no condensate surcharge is paid. According to the Federal Tax Service, the production volume of gas condensate in 2022 amounted to 18.3 million tons. According to sources, the increase in Gazprom’s mining tax on condensate could bring an additional 70-80 billion rubles a year to the budget.
The coefficient will not be applied to structures with a gas share of less than 35% in the total production portfolio. We are probably talking about Gazprom Neft. Representatives of the government press service confirmed that the amendments were approved at the White House meeting and will be submitted to the State Duma.
Another innovation of the Ministry of Finance will be tying the amount of reverse consumption tax subsidies to supply obligations for the domestic market. To receive a full subsidy, the company must supply gasoline and diesel fuel to the domestic market at least 40% of its total production of light oil products.
Russian President Vladimir Putin instructed government, with the participation of oil companies, to stabilize gasoline and diesel fuel prices.
Previously recognizedWhen oil prices fall to $50 per barrel.