Belarus’ crude oil export down 33% in Jan-Aug 2020 to 644,000 tonnes
<p> MINSK, Oct 22 - PrimePress. Belarus reduced the export of domestically produced crude oil by 33% year on year in January-August 2020 to 644,000 tonnes, reads the official statistical report. </p> <p> </p> <p> In value terms, the oil export decreased by 60% year on year in Jan-Aug 2020 to $168.948 million. This was due to both a decrease in the physical volume of supplies and the unfavourable price environment. </p> <p> </p> <p> The average export price of Belarus’ proprietary crude decreased by 41% year on year in Jan-Aug 2020 to $262.34 per tonne. </p> <p> </p> <p> Belarus resumed the export of its crude oil in April 2020. Previously, the entire volume was redirected to the Belarusian oil refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) in January-March to cover the deficit of oil, as Minsk failed to enter into supply contracts for 2020 with Russia’s major suppliers due to price disagreements that have been a point on the agenda since the end of 2019. </p> <p> </p> <p> Belorusneft State Association (Rechitsa, Gomel Oblast) increased oil output in Jan-Jul 2020 by 0.7% year on the year to 989,000 tonnes, planning to increase output by 1.18% y/y to 1.7 million tonnes. </p> <p> </p> <p> Belorusneft was founded in 1966. The company specializes in exploration works, oil extraction, gas processing, and offers a wide range of seismic exploration operations. </p> <p> Belorusneft provides oil extraction services in Russia, Ukraine, Venezuela and Ecuador, facilitates crude supplies to the Belarusian oil refineries on a give-and-take basis. Belorusneft sells oil products through its own chain of refilling stations and trading companies, and is engaged in the oil product export. End </p>
2020-10-23
Primepress
MINSK, Oct 22 - PrimePress. Belarus reduced the export of domestically produced crude oil by 33% year on year in January-August 2020 to 644,000 tonnes, reads the official statistical report.
In value terms, the oil export decreased by 60% year on year in Jan-Aug 2020 to $168.948 million. This was due to both a decrease in the physical volume of supplies and the unfavourable price environment.
The average export price of Belarus’ proprietary crude decreased by 41% year on year in Jan-Aug 2020 to $262.34 per tonne.
Belarus resumed the export of its crude oil in April 2020. Previously, the entire volume was redirected to the Belarusian oil refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) in January-March to cover the deficit of oil, as Minsk failed to enter into supply contracts for 2020 with Russia’s major suppliers due to price disagreements that have been a point on the agenda since the end of 2019.
Belorusneft State Association (Rechitsa, Gomel Oblast) increased oil output in Jan-Jul 2020 by 0.7% year on the year to 989,000 tonnes, planning to increase output by 1.18% y/y to 1.7 million tonnes.
Belorusneft was founded in 1966. The company specializes in exploration works, oil extraction, gas processing, and offers a wide range of seismic exploration operations.
Belorusneft provides oil extraction services in Russia, Ukraine, Venezuela and Ecuador, facilitates crude supplies to the Belarusian oil refineries on a give-and-take basis. Belorusneft sells oil products through its own chain of refilling stations and trading companies, and is engaged in the oil product export. End