Petroleum Products Exports Fell By Almost 10%

The export of Belarusian oil products fell by 1.1 million tons in January-August.

Belarus exported 10.3 million tons of oil products in January-August 2016, it was almost 1.1 million tons, or 9.6% less, compared to the same period last year, BelaPAN reports citing official statistics.

It should be noted that by the end of the first half of the year the volume of the Belarusian oil products export was at the level of last year, but the decline in Russian oil deliveries to Belarus in the third quarter of 2016 led to the reduction of the oil products export.

For example, in August 2016 the export of Belarusian oil products amounted to 635 thousand tons, which was twice less than in the same month last year.

We remind that in the third quarter Russia delivered to Belarus 3.5 million tons of oil (against 5.8 million tons in the first quarter and 5.7 million in the second one). The Russian side motivated the sharp decline in oil supplies by the Belarusian debt for gas.

The decline of Russian oil supplies has led to the fact that the Belarusian refineries have reduced production volume of petroleum products. So, if in the first half of the year the production volume of the oil refining industry of Belarus increased by 0.7%, compared to the same period last year, in January-August, when there was the reduction of oil supplies, it decreased by 9.2%.

Last week Belarus and Russia resolved the conflict in the oil and gas sector, the Belarusian side agreed to pay off the debt for gas and Russia agreed to resume the supply of oil to Belarusian refineries in the previous volumes. It is expected that Belarus will get 5 million tons of oil in the fourth quarter.