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Belarusian Belneftekhim hopes to restore oil exports by year-end

Belarusian Belneftekhim hopes to restore oil exports by year-end

Minsk, September 2 - Neftegaz.RU. The Belarusian state petrochemical concern Belneftekhim hopes the export of oil and oil products, which dropped due to an incident with the supplies of poor-quality Russian oil, will be restored by the end of the year, Chairman of Belneftekhim Andrei Rybakov told BelTa.

“The company is busy putting back the volume of oil supplies to the country and the export of Belarusian oil products. Plans are in place to bridge the gap and meet the 2019 targets by the end of the year,” said Andrei Rybakov. Belorusneft is catching up on the export of the Belarusian oil and forecasts to meet the planned supplies in November.

“In H1 2019, Belneftekhim's exports reduced to 80.9% as against 2018. The main reason was the weaker exports of the Belarusian oil and oil products due to the contracted oil refinery volumes at the Belarusian oil refineries because of the polluted oil pipeline. Oil, oil product and petrochemical quotations also went down,” Andrei Rybakov said.

Some 35-40% of oil products made by Belarusian oil refineries are sold inside the country. The rest is exported. The marginal markets for Belarus are the neighboring countries with the most optimal logistics.

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