LUKOIL may increase the prices at gas stations because of rising excise taxes

LUKOIL may increase the prices at gas stations because of rising excise taxes


BUDENNOVSK, 16 February. LUKOIL would like to raise the price of its petrol to avoid zero economy retail chain, told journalists the Vice-President of the company Vladimir Nekrasov.

“We sell in the domestic duck 15 million tons of oil products. Due to the increase of excise duty from 1 January we have already lost 30 billion rubles. With the increase in excise duties from 1 April we will lose another 30 billion rubles. This year we expect the retail economy, is close to zero,” he said.

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Net profit of “LUKOIL” on US GAAP for 9 months has fallen by 2.5 times, to $2.3 billion

According to Nekrasov, to maintain profitability of the retail network, prices from retail outlets you need to raise at least $ 2.

The government of the Russian Federation submitted to the state Duma a draft law to increase from 1 April 2016 the cost of the excise taxes on gasoline and diesel fuel. As follows from the explanatory note, from 1 April 2016, increase the rates of excise duties on motor gasoline, directly distilled gasoline, diesel fuel and middle distillates.

In particular, the excise rate for gasoline increased by 2 rubles. per 1 liter of gasoline. The excise tax on motor gasoline of the 5th class, valid from 1 April to 31 December 2016, will be 10130 rubles. for 1 ton. The excise rate on diesel fuel is proposed to increase from 1 April to 1 RUB. per 1 liter of diesel fuel, the document States. Thus, the excise rate for diesel fuel, effective 1 April to 31 December 2016, will be 5293 rubles. for 1 ton.

Also from April 1 excise duty rates for middle distillates, it is proposed to establish in size, equal to the rate of excise tax on diesel fuel.

Earlier it was reported that the additional revenues of the consolidated budget of the Russian Federation of increase of excises on gasoline and diesel fuel can be to 89.3 billion rubles for 2016.

Finance Minister Anton Siluanov said earlier that the increase in gasoline prices in retail should not happen.

This year, on the proposal of the Ministry of Finance the excise tax on fuel was increased, from 1 January the rate of gasoline Euro-5 increased by 36.1%, or 2 rubles., up to 7,53 rubles per liter, and on diesel fuel by 20.3%, to 4.15 rubles. per liter. Last time twice in one year, the excise tax was raised in 2013.

Delivery to Iran

“LUKOIL” is ready to supply Iran 2 million tons of oil products in exchange for supplies of oil to their European refineries, said Vice-President of the company.

“There is an ongoing negotiation. We are ready to supply oil products to Iran in exchange for oil from Astrakhan. Maximum transhipment capacity in Astrakhan – 2 million tons. Oil from Iran, we will supply the plant in Sicily the plant in Burgas, too, can recycle,” said he.

Previously, the company “LUKOIL” worked in the Iranian market. In 2003 she became part of the consortium with the Norwegian company “North hydro” with shares of 25% and 75%, respectively, for the project of exploration on the block of oil fields part of the Anaran. But in 2011, LUKOIL withdrew from the project in connection with the imposition of economic sanctions against Iran.

In April 2015, the company reopened its representative office in the Islamic Republic.