On March 18th, 2019, AEROFUELS Group of Companies representatives took part in the business meeting held by A.Yu.Ivanov, Deputy Minister of Finance of Russia, concerning analysis of jet fuel purchase practice. Directors and members of the domestic airlines (including Aeroflot PJSC), petroleum companies, airport refueling complexes, FAS and Ministry of Transport of Russia also took part in the meeting. In the course of the meeting AEROFUELS representatives attracted a special attention to jet fuel purchasing in the Russian fuel market, including stock trading, and stated specific proposals towards the Ministry of Finance of Russia upon aviation fuel trade mechanism improvement.

AEROFUELS proposals towards the Ministry of Finance of Russia include such essential measures as legislative increase of the minimum volume of products, which Vertically Integrated Oil Companies (VIOC) sell via stock trading, from the current 10% to 15% of the total sales revenue, increase of monitoring over equality of aviation fuel sales by VIOC during autumn and winter, and airlines involvement in aviation fuel purchase by stock trading.

The proposed measures will promote stock trading transparency and will enable non-discriminatory access to aviation fuel sold by stock trading for all market members, and the soonest practical implementation and maximum popularization of the domestic aviation fuel stock exchange prices indicator in the Russian Federation.

On March 3rd, 2019, in the settlement of Esso of Bystrinsky district, Kamchatka, a traditional sled dog race Beringiya-2019 arranged by the Kamchatka region Administration took place. It was for the second time when Aerofuels Group of Companies became one of Beringiya sponsors. Every year the sled dog race and the preceding sports and festive events are getting more popular not only in Russia but also abroad. On March 2nd, in Esso, a festival dedicated to Beringiya launching was held.

Beringiya-2019 will run along the following route: Esso – Ust-Kamchatsk. This year the track will approximately make 1 350 kilometers. The race is expected to finish on March, 23rd, but the exact date and final length of the route depend on weather. The first race took place in 1990. That time only eight dog-pulled sleds came to the track of 250 km long. The next year the track length was already 1980 km and it was registered in the Guinness Book of Records as the longest one in the world.

In February 2019, after a period of reduction and a short-time, relative stability, the oil products prices (including jet kero) moved to a phase of the intensive growth in the European market.

For example, if in January 2019 the jet kero average price in the regional European exchanges (e.g. Rotterdam and North-European) made approximately 600 US dollars/ton, then by twentieth of February it reached 650 US dollars/ton. Based on the prognosis and taking into account of the current growth tendency, an average jet kero price in Europe in March 2019 will grow by 50-55 US dollars/ton.