Exports will be disadvantageous if the current situation remains the same within a month
The fall in world oil prices has caused a drop in Russian market prices in late March. It was reported by the Russian edition of Argus.
Thus, transportation costs, export duties and other costs exceeded the average value of the Russian Urals export mix in North-Western Europe and the Mediterranean region.
On March 30, the quotation of “Urals FIP Western Siberia Formula” was equal to -12,8 dollars per tonne, and on March 31, – decreased to -15,4 dollars per tonne. Delivery under FIP (Free In Pipe, – 112 International.) stipulates that the seller will deliver the raw materials to the pipeline at his own expense.Related: Trump call to Putin raises Russia’s hopes of end to costly oil war
This situation has caught many market participants by surprise, as their contracted oil prices, both annual and short-term, are based on the formula’s value during the month of delivery.
According to analysts, exports will become disadvantageous if the current situation remains the same within a month.
As we reported earlier, Stockholm Arbitration Tribunal issued a decision in favor of Polish gas company PGNiG ending the 5-year dispute about the price for gas with Russian Gazprom.
The Russian company is obliged to return about 1.5 billion dollars to PGNiG.
“Thus, transportation costs, export duties and other costs exceeded the average value of the Russian Urals export mix in North-Western Europe and the Mediterranean region.”
Great news, so Russia need to sell oil to keep afloat, but they can only sell it at a loss.
Don’t you putin worshipers worry your little pea brains one bit.
This price collapse was all apart of his master plan.
Attacking his largest arms supplier.
Get into a trade war with his largest trade partners in the EU.
Renewing the cold war with a country with an economy that is 16 times his size.
Propping up a war criminal so incompetent he lost control 75% of his country and has to have 4 separate armies to to keep him from swinging from a lamp post.
Yep I know this all sounds like he does not know what he is doing but but that too is apart of his fiendish plan.