BelOil’s subsidiary suspends export of oil products through Klaipeda port
<p> MINSK, Dec 15 - PrimePress. BNK (UK) Limited, a subsidiary of the Belarusian Oil Company (BelOil, special exporter of Belarusian oil products), has suspended the export of oil products via the port of Klaipeda (Lithuania) under new contracts, Klaipėdos nafta reports. </p> <p> </p> <p> The contracts between BelOil and Klaipėdos nafta remain in force, but performance of contractual obligations is suspended indefinitely. Cargoes now go to Klaipeda in smaller amounts and are transshipped at Klaipėdos nafta oil terminal for further export. </p> <p> </p> <p> “At the moment, we are working with Belarusian customers as usual. Cargo deliveries are planned for the near future. However, we understand that customers’ decisions are most likely dictated not by economic, but political considerations, which are beyond our control. We are studying all the information from Belarus this year and are adapting our business plans accordingly, diversifying our activities and expanding the range of services and customers,” said Mindaugas Navikas, Commercial Director at Klaipėdos nafta in Lithuania. </p> <p> </p> <p> He says it is hard to forecast possible impacts. The likelihood that the Belarusian cargos will not be shipped to Lithuania is quite real for now. </p> <p> </p> <p> As previously reported, President of Belarus Alexander Lukashenko said in late August 2020 that cargo flows might be redirected from the ports of the Baltic States to Russian ports. This is due to the sanctions imposed by Lithuania, Latvia and Estonia on Lukashenko and other Belarusian officials. </p> <p> </p> <p> Belarusian oil products account for 35% to 45% of Klaipedos nafta terminals’ turnover. 72.32% of Klaipedos nafta’s stake is owned by Lithuania, and 10.41% stake is held by Achemos grupe private chemical concern. </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> <p> </p>
2020-12-16
Primepress
MINSK, Dec 15 - PrimePress. BNK (UK) Limited, a subsidiary of the Belarusian Oil Company (BelOil, special exporter of Belarusian oil products), has suspended the export of oil products via the port of Klaipeda (Lithuania) under new contracts, Klaipėdos nafta reports.
The contracts between BelOil and Klaipėdos nafta remain in force, but performance of contractual obligations is suspended indefinitely. Cargoes now go to Klaipeda in smaller amounts and are transshipped at Klaipėdos nafta oil terminal for further export.
“At the moment, we are working with Belarusian customers as usual. Cargo deliveries are planned for the near future. However, we understand that customers’ decisions are most likely dictated not by economic, but political considerations, which are beyond our control. We are studying all the information from Belarus this year and are adapting our business plans accordingly, diversifying our activities and expanding the range of services and customers,” said Mindaugas Navikas, Commercial Director at Klaipėdos nafta in Lithuania.
He says it is hard to forecast possible impacts. The likelihood that the Belarusian cargos will not be shipped to Lithuania is quite real for now.
As previously reported, President of Belarus Alexander Lukashenko said in late August 2020 that cargo flows might be redirected from the ports of the Baltic States to Russian ports. This is due to the sanctions imposed by Lithuania, Latvia and Estonia on Lukashenko and other Belarusian officials.
Belarusian oil products account for 35% to 45% of Klaipedos nafta terminals’ turnover. 72.32% of Klaipedos nafta’s stake is owned by Lithuania, and 10.41% stake is held by Achemos grupe private chemical concern.
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