Business news

MINSK, 8 February (BelTA) – The Belarusian oil refineries must have alternative crude oil supply sources, Belarus’ Deputy Prime Minister Vladimir Semashko said at the final board meeting of Belneftekhim Concern, BelTA has learned.

Vladimir Semashko noted that in 2017 OAO Naftan and Mozyr Oil Refinery received 18 million tonnes of Russian oil for processing. This year the figures will be the same, as envisaged in the agreements with Russia.

“But the domestic oil refineries must have some alternative crude oil supply sources. This is obvious for the oil refineries and Belneftekhim in the light of the tasks set forth before the industry,” he said. Last year Belarus organized the deliveries of Iranian oil as part of the efforts to diversify oil supply sources.

The vice premier stressed that Belarus and Russia have all oil-related issues settled by 2024. Belarus was relieved of the obligation to annually supply 1 million tons of oil products to Russia. If this obligation were still in place, this could have led to the losses amounting to $150 million per year.