Sechin warns Putin about shortage of petrol in 2017 and asks for benefits

On July 15th, president of Rosneft Igor Sechin sent a letter to the head of state, Vladimir Putin, in which he warned about the disastrous consequences of the tax manoeuvre that is in force since January 1, 2015, the RBC reports referring to the copy of the document. Sechin notes "a sharp drop in profitability", and losses at some refineries. If the trend continues, by 2017 Russia may face a shortage of petrol on the domestic market in the volume of up to 5 million tons per year at the current level of the consumption. As a result, plants will have to postpone modernization or even reject it at all.

Sechin asked to consider the plan of the industry's salvation at the FEC presidential commission, the responsible secretary of which he is. Its meeting is scheduled for October. The copy of the letter is signed by Putin and contains his resolution "for October".

Full text available to premium subscribers only.

Buy full access for 24 hours now


Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer