OREANDA-NEWS Russian Deputy Prime Minister Alexander Novak called on oil companies to maintain sufficient fuel sales levels and prevent purchases from each other on the stock exchange, the cabinet's press service reported.
Earlier on Thursday, Novak held a staff meeting on the situation on the domestic market of petroleum products.

"Alexander Novak noted the need to maintain fuel sales levels in sufficient volumes, to prevent oil companies from purchasing goods from each other on the stock exchange," the report says.

Previously, oil companies could buy fuel from each other on the St. Petersburg Stock Exchange in an addressable mode during an additional session, but at a weighted average price of the main session. However, the second session was cancelled at the end of 2023 in the midst of the fuel crisis.

After this regime was closed, oil companies were forced to switch to such transactions in the main session, which could lead to an increase in exchange prices for petroleum products.

The government has repeatedly instructed the Federal Antimonopoly Service, the Ministry of Energy of the Russian Federation and the St. Petersburg Stock Exchange to work to minimize the purchase and sale of fuel by oil companies on the stock exchange from each other. The departments and the trading platform had to prepare proposals that would encourage companies to enter into direct contracts with each other linked to exchange prices.