BelOil has completed contracting the planned volumes of oil products for 2021 in Ukraine

<p> MINSK, Dec 3 - PrimePress. The Belarusian Oil Company CJSC (BelOil), which controls exports of Belarus’ petroleum products, has completed contracting the planned volumes of gasoline and diesel fuel under long-term contracts for 2021 in Ukraine, enkorr portal reports citing data of market players and BelOil sources. </p> <p>   </p> <p> “We sold even more diesel than we had planned,” said a BelOil source. According to him, as of December 2, the company has 5 thousand tons left to be sold in December, with seven companies competing for this volume. </p> <p>   </p> <p> As previously reported, the volume of BelOil’s term contracts with Ukraine for 2020 was about 180 thousand tons of diesel fuel and 50 thousand tons of gasoline per month. </p> <p>   </p> <p> Market participants say BelOil has managed to increase prices for term contracts for all categories of buyers. Thus, the largest counterparties - OKKO, UPG, WOG, Naftogaz Oil Trading - signed an annual term contract for diesel fuel according to the formula with a premium of $20 per 1 ton on FCA Mozyr terms (+ $1-2 to the premium level in 2019). </p> <p>   </p> <p> A source in the BOC explained that the supply terms take into account the increase in oil prices for Belarusian refiners due to Russia’s tax manoeuvre. </p> <p>   </p> <p> According to market participants, the volume of term contracts for Belarusian gasoline supply in 2021 fell slightly compared to the current year, which is primarily due to growing production volumes at Ukrainian refineries. For example, the Ukrtatnafta refinery plans to increase its refining capacity from 3.1 million tonnes in 2020 to 4.5 million tonnes in 2021. </p> <p>   </p> <p> One of the trends in the 2021 contracting season is the rejection or reduction in the portfolio of term contracts in favour of buying on the spot market. “Gasoline supply is getting bigger, sales are going hard,” said one trader. </p> <p>   </p> <p> Ukraine’s petrol import increased by 3.2% year on year in January-October 2020 to 902,400 tonnes, while the overall balance of motor petrol supplies to the Ukrainian market increased by 7.6% to 1,753.5 million tonnes. </p> <p>   </p> <p> The Belarusian Oil Company CJSC was established in May 2007. Belorusneft owns a 52% stake in the company, Naftan OJSC and Mozyr Oil Refinery OJSC own 24% each. BelOil exports oil products produced by its shareholders, purchases and refines oil at Belarusian refineries. The company has subsidiaries in Poland, Latvia, the UK, Russia and Ukraine. End </p>

2020-12-04

Primepress