The authorities are ready to throw a lifebuoy to the Russian oil refinery

The government will give a chance to some of the independent refineries to avoid closure due to tax maneuver - the privilege will allow them to return about 45 billion rubles. Support can also be received by the factories of the largest private refiner - the New Stream group.
18.06.2018
RBC
Origin source
The government decided to support a group of small oil refineries, which may be closed due to the completion of the tax maneuver in the oil industry. This decision was made at a meeting with Deputy Prime Minister Dmitry Kozak on June 15, RBC told a source close to one of the oil companies, and confirmed by three federal officials.

We are talking about refineries with a capacity of 600 thousand tons, which did not have time to complete the modernization and do not yet supply Euro 5 gas to the domestic market, they explain, but the names of specific refineries do not. These refineries will be able to receive a refundable excise tax for a further three years under milder conditions than others, when supplying not only gasoline and naphtha, but also diesel, etc. to the domestic market, explains one of RBC's interlocutors. The total capacity of the factories that received a delay is approximately 15 million tons, that is, about half of all capacities that should be closed due to maneuver, two federal officials estimate.

The Ministry of Finance is currently finalizing a bill on tax maneuver, RBC spokesman for the ministry's press service said, refusing to comment further. Representative of Deputy Prime Minister Dmitry Kozak Ilya Dzhus told RBC that decisions will be taken when the draft law is considered by the government.

Factories of lesser capacity that can not get support, in Russia, about two dozen, estimates Thomson Reuters Kortes analyst Maxim Nazarov. The presentation of the Ministry of Finance on May 15 said that at the completion of the maneuver in 2019-2024 independent refineries could lose 242 billion rubles., Of which 66 billion rubles. - factories of Dmitri Mazurov and Igor Makarov, the largest private refiner in Russia of the New Stream group (the Mari refinery and the Afipsky refinery, where 25% are friendly to Novyi Tray).

The representative of the "New Stream" declined to comment.

Support for gasoline suppliers and "sanction" companies

The tax maneuver is to increase the severance tax and proportionately zero the duties on oil and oil products during 2019-2024. According to the Finance Ministry's plan, the maneuver should deprive the Russian oil refinery of the historical subsidy from the budget (due to the difference in the export duties on oil and oil products), but those plants that produce and supply Euro-5 gasoline and petrochemicals to the domestic market will be able to return this subsidy subsidy in the form of a refundable excise tax on oil.

Most large Russian refineries are far from the borders and therefore can not compete with foreign players on world markets because of high transportation costs, and the subsidy has compensated for this problem. Due to the growth of MET and the zeroing of duties, the budget in 2019 would have additionally earned 237 billion rubles, of which 137 billion rubles. The Ministry of Finance was ready to return oilmen in the form of a reverse excise, it follows from the presentation of the ministry on May 15. Later, the Ministry of Finance expanded the list of plants that could receive a return excise by including refineries, whose owners were subject to financial sanctions.

The Ministry of Energy has requested the support of small refineries to Kozak. At the same time, an obligatory condition for obtaining a refundable excise for them is the fulfillment of the modernization program, the source of RBC, close to one of the participants in the meeting with the vice-premier, emphasizes. All enterprises that received a delay, modernization is planned, says one of the federal officials. According to his estimates, a refundable excise tax for such refineries will be 2.5-3 thousand rubles. for 1 ton and for three years the plants will be able to save about 37-45 billion rubles. These estimates are confirmed by another source close to one of the federal ministries.

Support for small refineries is also a step towards banks that have issued loans for upgrading plants under more favorable tax conditions. "Almost all the plants were reconstructed with our money. We have a great chance to become owners of a large number of oil refineries, "warned the head of Sberbank German Gref in April, when the ministries began actively discussing the tax maneuver. "The first maneuver that you did, led to the fact that their profitability fell by half and all business plans for which money was taken, flew to the tartar," - said the president of Sberbank.