Russia Poised to Extend Gasoline Export Permissions for Major Oil Producers

Russia's government is expected to allow its major oil companies to continue exporting gasoline until the end of February. This extends a temporary lift of a previous ban imposed due to high fuel prices and potential shortages. Top producers like Gazprom and Lukoil may benefit.

In a move to bolster its oil industry, the Russian government is reportedly set to permit its leading oil companies to extend gasoline exports through February. This development, highlighted by the Kommersant newspaper, would enable refineries to operate at full capacity.

Last November, Russia temporarily lifted a ban on gasoline exports, initially introduced to counter soaring fuel prices and avert potential shortages. The ban's exceptions include supplies to countries in the Eurasian Economic Union and others with specific agreements.

Notably, the major gasoline producers anticipated to benefit include Gazprom Neft's Omsk refinery, Lukoil's NORSI refinery, and Rosneft's Ryazan refinery.

(With inputs from agencies.)