Belarusian Oil Trading House plans to resume give-n-take processing
<p> MINSK, Apr 14 - PrimePress. The Belarusian Oil Trading House (BOTH) intends to return to toll processing of petrochemical raw materials in cooperation with enterprises of the Belneftekhim Concern, BOTH CEO Yuri Ivanchuk said in an interview published the Belneftekhim Bulletin. </p> <p> </p> <p> He noted that from 2003 to 2020, the enterprise carried out toll processing of oil with further sale of oil products on domestic and foreign markets. During this period, the company processed over 6.5 million tonnes of oil using the give-and-take scheme. </p> <p> </p> <p> According to Ivanchuk, such activity was ceased in 2020 due to high volatility of the oil market and “in order to minimize negative impact of the tax manoeuvre on the efficiency of our company's tolling operation”. </p> <p> </p> <p> BOTH is an operator of the common trading platform of the Belneftekhim Concern, which has been holding daily electronic auctions for sale of oil products, fertilizers and petrochemical products since 2005. More than 840 companies from 40 countries are accredited on the electronic platform. In addition, it organizes and conducts centralized procurement of raw materials for the petrochemical industry, provides operational management of the industry distribution network of Belneftekhim, which includes eight branches in eight countries. End </p>
2021-04-15
Primepress
Belarusian Oil Trading House plans to resume give-n-take processing
MINSK, Apr 14 - PrimePress. The Belarusian Oil Trading House (BOTH) intends to return to toll processing of petrochemical raw materials in cooperation with enterprises of the Belneftekhim Concern, BOTH CEO Yuri Ivanchuk said in an interview published the Belneftekhim Bulletin.
He noted that from 2003 to 2020, the enterprise carried out toll processing of oil with further sale of oil products on domestic and foreign markets. During this period, the company processed over 6.5 million tonnes of oil using the give-and-take scheme.
According to Ivanchuk, such activity was ceased in 2020 due to high volatility of the oil market and “in order to minimize negative impact of the tax manoeuvre on the efficiency of our company's tolling operation”.
BOTH is an operator of the common trading platform of the Belneftekhim Concern, which has been holding daily electronic auctions for sale of oil products, fertilizers and petrochemical products since 2005. More than 840 companies from 40 countries are accredited on the electronic platform. In addition, it organizes and conducts centralized procurement of raw materials for the petrochemical industry, provides operational management of the industry distribution network of Belneftekhim, which includes eight branches in eight countries. End