29 March 2024, Friday, 9:19
Support
the website
Sim Sim,
Charter 97!
Categories

Russian companies dramatically reduced oil refining in Belarus

Russian companies dramatically reduced oil refining in Belarus

This year Russian companies have decreased oil refining at Belarusian refineries to 24% while the established quota is 50% of oil imported from Russia.

It was said by a source in the relevant ministry to Prime-TASS agency. The source noted that the remaining 76% of the oil were delivered to Belarusian oil refineries by Belarusian companies. “Decrease of the volume of oil, refined by Russian companies on give-and-take basis, is caused by the effect of a tax manoeuvre, which is to be carried out by Russia since 2015 for three years. In the new conditions it has become more profitable for Russian companies to pump oil mostly for export,” the interlocutor of the agency stressed.

At the same time he attracted attention to the fact that a proportion of 60 to 40 would be optimal for Belarusian oil refineries, that is, when 60% of oil is bought by Belarusian companies, while 40% by Russian ones.

On April 13 at the international conference “Belarusian oil and gas week” the deputy director general of Mozyr oil refinery, Uladzimir Sizau (Sizov) said that the tax manoeuvre in the oil industry stimulates vertically integrated companies to withdraw from oil processing and increase direct oil export.

In 2014 Russian companies refined 42% of the oil imported by them, with the established quota of 50%.

We remind that oil and petrol deliveries are one of the bilateral agreements between Minsk and Moscow in the framework of creation of the Eurasian economic union. According to them, Russia is to deliver to Belarus oil at home prices, and Belarus is to deliver oil products to Russia.

Write your comment

Follow Charter97.org social media accounts