FAS PROPOSES TO ESTABLISH SALES STANDARDS IN THE DERIVATIVES MARKET OF PETROLEUM PRODUCTS

 FAS has posted a draft order on the federal portal of draft regulatory legal acts on the establishment of the minimum value of standards for the sale of petroleum products on the stock exchange on the futures market.

This is the segment where contracts with a certain delivery period are concluded.

These include supply futures contracts: the parties conclude a contract under which one of them must purchase the goods and the other must sell them within a certain period of time.

In addition, the development of futures contracts will attract additional liquidity to the traded contracts. In turn, it will allow the formation of domestic price indicators for petroleum products, taking into account the quotations of the Russian stock exchange futures market.

FAS proposes to establish sales standards:

- for motor gasoline – one percent;

- diesel fuel – one percent;

- jet fuel - one percent;

- fuel oil - one percent;

- liquefied hydrocarbon gases for household needs and motor transport (a mixture of propane and butane technical, propane technical, butane technical, propane-butane automotive, propane automotive) – one percent.

According to SPIMEX, in 2021, the volume of deliveries of fixed-term contracts for petroleum products for the domestic market of the Russian Federation amounted to 184,917 thousand tons, which is 31.4% more than in 2020.

In the 1st quarter of 2022, the volume of deliveries of fixed-term contracts for petroleum products for the domestic market of the Russian Federation amounted to 23,337 thousand tons.