26-02-2018 | 12:50

Representatives of FAS and “SPIMEX” JSC shared practical experiences for exchange trading development with “Belneftekhim” (Belarus).


The company executives arrived to Russia upon FAS invitation for the talks about establishing common market of oil and oil products in Russia and Belarus in the oil and gas sector.


At the Exchange they were shown how trading with oil products is organized; including trading sessions and filing applications; volumes that are sold out following trading sessions; and how further supplies of oil products to consumers are supported.


Belarus delegation also visited FAS and took part in at meeting focusing on tariff control under market pricing and stage-by-stage deregulation of prices for oil products. FAS representatives informed that in the Russian Federation it takes place under the frame of commercial market infrastructure that comprises the Exchange and the Exchange Committees.


The guests also attended two sessions of the Exchange Committee: on benchmarking that focused on establishing price indicators for Urals crude export futures contracts, and on oil and petrochemicals.


“Developing exchange trading is a priority in line with No. 618 Order of the President of the Russian Federation “On the main areas of the state policy towards competition development”, pointed out Deputy Head of FAS Anatoly Golomolzin. “Exchange trading based in the principles of evenness and regularity makes all market participants equal and form a fair market price for the goods. Among the commodities sold through exchange trading there are gas, petrochemicals, timber, mineral fertilizers, grain, and sugar. The list of exchange traded commodities is constantly expanding. Exchange trading with petrochemicals stated in 2015. The market is already mature and now around 18-20% of the total volume of oil products are sold through the Exchange”.


Participants heard reports of the Central Administration for the Fuel-and-Energy Complex on fuel supply to the domestic market and for export and maintaining fuel reserves. There was also a special report about developing small wholesale trade with oil products.


Belorussian colleagues appreciated the importance of the new pricing mechanisms and confirmed their readiness to use Russian experience in their practice. They thanked FAS staff “for an open dialogue and a high standard of professionalism”.