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23 Mar 2020

Belarusian oil refineries to get enough crude oil to work effectively in Q2 2020

Belarusian oil refineries to get enough crude oil to work effectively in Q2 2020
Andrei Rybakov

MINSK, 23 March (BelTA) – Work is in progress to put together a package of the raw materials the Belarusian oil refineries will use in Q2 2020, BelTA learned from Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov after a government conference hosted by the head of state on 21 March.

The official said that participants of the conference had discussed various proposals from suppliers from the Russian Federation and continued work to procure oil from alternative sources. It is necessary to put together the entire raw materials package for Belarusian oil refineries within one week so that the refineries could steadily and effectively operate for the entire second quarter of the year. The refineries should have enough oil to satisfy the home demand and execute foreign contracts.

Asked what Belarusian proposals exactly Russia had endorsed, the official was disinclined to offer anything specific: “We will talk about final prices when the package of offers from all sources is ready.” In his words, making sure the Belarusian oil refineries operate effectively is the idea.

Andrei Rybakov added that the oil price is something that depends on markets and circumstances driven by a huge number of factors. “This is why I don’t specify an absolute price. Let’s say, the price is determined by a formula. We are definitely going to work out solutions for the most effective pricing,” the Belneftekhim head said.

On 21 March Belarus President Aleksandr Lukashenko hosted a government conference to discuss the operation of Belarusian oil refineries. Aleksandr Lukashenko stated that the Russian side had fully endorsed Belarus’ proposals on oil acquisition.

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