MOSCOW, Aug 28 (PRIME) -- Russian oil major Rosneft sent a letter to the government asking it to adjust the formula of oil duty reimbursement to cut the losses that the company sustained during the pandemic, business daily Kommersant reported on Friday, citing sources.
Under the reimbursement mechanism, the government pays oil companies the difference between the local and export prices of gasoline and diesel fuel in case the export price is higher. If the local price is higher, oil companies share the extra profit with the government.
A source said that Rosneft wants to use the commodities market prices as the base for calculation instead of the local prices. According to the company, the real prices on the market were 10% lower than those used for calculation, and the company would like to pay no money to the budget in this situation.
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