Oil-Related Revenues Fall By 40%

The export of oil products has declined by almost 20% in physical terms, and by 40% in monetary terms.

The export of the Belarusian oil products in January-November 2016 amounted to 12,3 million tons and decreased in the volume by 19,3% compared to the same period in 2015, the BelaPAN news agency reports.

In monetary terms, the export of the Belarusian oil products in January-November amounted to $ 3,78 billion and decreased in comparison with the same period of 2015 by 39,2%.

It should also be noted that in the analyzed period, Belarus reduced the supply of petroleum products to Russia. In January-November 2016 Belarus' residents took 264,7 thousand tons of oil products to the Russian market, which is 70% less compared to the same period in 2015.

We remind, last year the Belarusian authorities justified the reduction of oil supplies to the Russian market by the fact that realization of the Belarusian fuel in Russia under the existing pricing conditions appeared not profitable. In turn, the government of the Russian Federation, referring to the previously signed agreements with Belarus, insisted on supplying of 1 million tons of gasoline to the Russian market.