Rus News Journal

FAS expands a coal ear for oil industry workers

Federal antimonopoly service (FAS) it is ready to expand essentially a corridor the resolved fluctuations the internal prices for oil products. According to arrangements from Ministry for the Power Generating Industry, FAS can increase the corresponding factor in the formula of calculation of the prices by principles netback more than twice. In practice it means that in the Russian Federation the margin to 6 - 7 % of the price of export alternative officially will not be considered as department criminal, and the oil companies can earn in home market on $2 mlrd in a year more.
that such arrangement has been reached in the end of the last year, head FAS Igor Artemyev has informed on Tuesday to journalists. As he said, the factor can be increased more than twice - with declared before 3 % to 6 - 7 % of the price of export alternative for Russian oil and oil products. Thus, the internal prices for the oil products getting to a range netback plus - a minus 6 - 7 %, department will not recognise as exclusively high or low. The service to some extent meets half-way oil industry workers who always extremely critically estimated initiatives FAS on creation of the formula of the price. According to Vladimir Salnikova from the Center of the macroeconomic analysis and short-term forecasting, in scales of the Russian Federation speech in a limit goes about additional 50 - 70 mlrd rbl. a year, which oil companies can take from rise in prices to new exclusive borders.

now NK independently count the netback (the world prices a minus of the duty and a cost of transportation). Such calculation becomes that depending on a current conjuncture of the prices for raw materials to estimate expediency of export. FAS intend to apply these calculations to definition of a fair price level on oil products in the country for what has made the special formula in which readout is conducted from oil cost in ports of Rotterdam or Singapore.

as at the petrocompanies different level of costs and the netback in each direction of export, antimonopolshchikam was necessary to include correcting factor, or the differential established by the government in the formula. According to the bill About market pricing on oil and oil products - it now is on the coordination in the government - the differential can correct an index of the comparable prices, or certain the general level netback for the Russian oil companies, within 3 %. Indicator FAS received as a result will use as a reference point for a situation assessment in home market, and if the prices for oil products exceed the threshold values calculated under the formula, it becomes the basis for antimonopoly prosecution of infringers.

mister Artemyev has not specified, whether is the arrangement from Ministry for the Power Generating Industry about increase in differential to 6 - 7 % definitive. Anyway such indulgence hardly will satisfy the oil companies which conduct with FAS discussions about the price formula not the first year and basically do not agree with idea of application netback for antimonopoly regulation in home market. In particular, in LUKOIL on Tuesday were very careful in estimations. such increased differential is, of course, essential rapprochement of positions, but the coordination of the formula of the price demands the further study - has declared the representative of the oil company. In Rosneft and Oil Gazprom in the evening on Tuesday the comment it was not possible to receive.