UPDATE: Official: Government mulls extra fuel supplies to market - Oil & Gas - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

UPDATE: Official: Government mulls extra fuel supplies to market

(updates headline, details in paragraphs 1, 3)

YEKATERINBURG, Jul 5 (PRIME) -- The Russian fuel market is stable but the Energy Ministry and the Federal Antimonopoly Service are considering raising the obligatory market sales by 1 percentage point in order to raise confidence, Deputy Energy Minister Pavel Sorokin told PRIME on the sidelines of a forum on Monday.

"Production is higher than consumption, which is testified to by permanent stocks in spite of a period of repairs at the refineries, but in general, the situation on the market is quite stable," Sorokin said.

"We are considering this (an increase of obligatory fuel sales on the market) with the Federal Antimonopoly Service. We see that additional fuel supply to the market may give it more confidence in volumes, but in general, judging by the market, small wholesale, large wholesale, the market is more than stable."

The official added that the current production is sufficient to cover not only the usual, but peak demand as well. Repairs at some plants are to finish in July boosting supply.

End %%mk/jst%%

05.07.2021 12:04
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