Russian Dec domestic oil prices down 3 pct vs Nov
MOSCOW, Dec 1 (Reuters) - Russian oil firms have sold crude for domestic delivery in December at West Siberian metering points URL-WSB at 3,200-3,300 roubles ($114.5-$118.1) per tonne versus 3,350 in November, traders said on Monday.
The session was extended and lasted almost two weeks instead of usual five to seven days as market participants waited for the decision on duties after a last minute attempt by oil firms to get a bigger cut, traders said last Friday [ID:nLR560508].
Russian domestic oil prices are below production costs and taxes for the second month in a row, as they usually follow global crude trends. To see these prices click on <0#CRUDE-RU>.
Small companies, which account for about 5 percent of Russia's total oil production, have been affected the most as a lack of long-term funding and the absence of retail outlets and refining capacity exacerbates the situation.
Traders assessed oil export losses for small companies at around $0.95 per barrel, while domestic sales were seen at a loss of $1,60 per barrel.
Russian oil majors showed some profitability on the back of lower extraction costs.
Ufa refineries bought crude at 3,500-3,750 per tonne at the refinery gate URL-UFA.
Moscow refinery, which typically buys crude from small producers in Siberia and the Komi republic, was buying crude at 3,450-3,550 roubles per tonne at the refinery gate, versus 3,600-3,650 in November URL-MSW.
Komi producers, the second most active seller after Siberia, sold crude at 2,800-2,900 roubles at local metering point URL-KMO. Continued...




