Putin noted the positive dynamics in the Russian energy sector

MOSCOW, October 27. The President of Russia Vladimir Putin noted positive dynamics in the activities of the Russian fuel and energy complex.

“In recent years, Russian fuel and energy complex, its basic industry, have set a good pace,” said the head of state at a meeting of the presidential Commission on fuel and energy complex. According to him, this is largely the result of recent decisions, including the benefits in the development of fields in Eastern Siberia and shelf.

Putin stressed that this has allowed to access new reserves, increase oil production and to increase investment in the deep processing of hydrocarbons, “and in General to set a positive dynamics of qualitative changes in the Energy industry”.

About additional tax exemptions in the Energy sector

Investments in fuel and energy sector have a major impact on the entire economy of Russia, said Vladimir Putin. “We need to discuss financial support of projects in the Energy sector, in order to prevent the reduction of investment,” he said.

“The energy sector plays a major role in the investments, and we cannot allow additional tax exemptions have led to reduced investment, Putin said. Because the energy industry is the powerhouse of our economy.”

The Russian President also urged to maintain the positive dynamics of investment in the Russian fuel and energy complex. At the meeting of the presidential Commission on the fuel and energy sector, he noted that “to date, more than 40% of investments in the country fall to the share of fuel and energy complex”. “Our common task is to maintain the positive dynamics of investment in the industry. Be aware that the investments of the Energy sector have a positive impact on the entire economy of the country”, – said the head of state.

Putin also urged not to allow the investment pause in the energy sector. “It is clear that this is not the first and not the last crisis in the world market”, – said the President, commenting on the current state of Affairs in the industry.

Stop using involute in the internal calculations

The President of Russia Vladimir Putin instructed to stop using foreign currency in domestic payments in the Russian energy sector. “We need to begin a serious study of the issue of strengthening the role of the ruble in the calculations, including for products of the Russian fuel and Energy sector, wider use of national currencies in transactions with those countries with which we actively trade,” said the President of the Russian Federation.

He also called for forming an independent national pricing indicators for the main types of fuel and energy goods for the purposes of exchange trading.

Transparency of orders for equipment

The substitution of equipment in the Russian fuel and energy complex should not harm the setting of “price-quality”, and also be accompanied by greater transparency of orders from mining companies, the President said.

“We need to increase the level of localization of technologies and equipment that are needed by Russian companies and are in demand among Russian customers”, – said the President. He noted that when it is necessary to observe the parameter “price-quality” and “increase the transparency of such orders by all subsoil users, regardless of capital structure”.

Important role in the development of import substitution of equipment for the Energy sector, according to the head of the state, should play a financial instruments, including loans, leasing, subsidized interest rates, etc.

To solve the problem of counterfeit oil products

In addition, Vladimir Putin instructed to solve the problem of production of counterfeit oil products, which affect both oil companies and consumers.

As noted by the head of state, it is necessary to “improve the competitive environment in the market of petroleum products”, and to develop uniform requirements for their production.

“We need to stop the production of counterfeit goods,” Putin summed up.

Russia has opportunities to increase its share on the LNG market.