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Russia's anti-trust watchdog warns Rosneft against petrol export

The anti-trust watchdog’s warning made on Wednesday relates to Rosneft’s November 22 public offer to export up to 1.145 million tons of petrol between December 2014 and March 2015

© EPA/YURI KOCHETKOV

MOSCOW, December 31. /TASS/. Russia’s Federal Anti-Monopoly Service warned oil major Rosneft on Wednesday against an attempt to export motor gasoline amid its shortage on the domestic market.

The anti-trust watchdog’s warning made on Wednesday relates to Rosneft’s November 22 public offer to export up to 1.145 million tons of petrol between December 2014 and March 2015.

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Russia anti-trust watchdog launches probe against major oil firms over price manipulation

The Federal Anti-Monopoly Service believes that Rosneft’s actions may breach anti-trust legislation, if the company exports gasoline amid unsatisfied demand for oil products on the domestic market as this may lead to a refusal to sign contracts with independent entities, the watchdog said.

A Rosneft spokesman said the company has organized a number of tenders for export deliveries due to the traditionally lower demand for petrol in Russia from December to February to avoid operational risks of overstocking at its refineries. At the same time, the company bears no responsibility for delivery volumes, the spokesman said.

“Therefore, Rosneft will make a decision on product deliveries to tender winners only in case of a favorable situation with supply on the domestic market. Petrol supplies to the domestic market are a priority for us,” Rosneft said.

Meanwhile, a Rosneft source told TASS the company has made no export deliveries under these tenders and notified the watchdog about this.

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