New Oil Company established in Belarus to facilitate alternative oil supplies
<p> MINSK, Jun 26 - PrimePress. A private company entitled New Oil Company (NOC) was established in Belarus in March 2020 to organize alternative oil supplies, an official representing a relevant state agency told PrimePress. </p> <p> </p> <p> “The company was established by private commercial entities. This is another operator, which will organize oil supplies to Belarus,” the official said. </p> <p> </p> <p> Asked to comment on the news, Spokesman for Belneftekhim Concern Alexander Tishchenko told PrimePress that the NOC will not be a competitor for the state-run exporter of oil products Belarusian Oil Company (BelOil), which is also engaged in organizing alternative oil supplies to Belarus. </p> <p> </p> <p> “On the contrary, with the advent of the NOC there will be more opportunities for attracting oil to Belarus,” said Tishchenko. In his words, it is possible that if there are certain commercial incentives, the NOC could also supply oil to the Belarusian refineries (Mozyr NPZ and Naftan) on a give-and-take basis. </p> <p> </p> <p> “The NOC has been registered only recently, and we are not yet aware of the company’s commercial plans. But, obviously, as a private entity, the NOC will risk only its shareholders’ money when buying oil,” Tishchenko said. He would not name the NOC shareholders. “These could be both domestic and foreign companies,” he said. </p> <p> </p> <p> Belarus has been diversifying oil supplies to its refineries (Mozyr Oil Refinery, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) after Russia cut supplies in January-March 2020 due to price disagreements with Russian large oil companies. Since early 2020, Belarus has purchased oil from Azerbaijan, Norway, Saudi Arabia and the United States via Klaipeda (Lithuania) and Odessa (Ukraine). End </p>
2020-06-27
Primepress
New Oil Company established in Belarus to facilitate alternative oil supplies
MINSK, Jun 26 - PrimePress. A private company entitled New Oil Company (NOC) was established in Belarus in March 2020 to organize alternative oil supplies, an official representing a relevant state agency told PrimePress.
“The company was established by private commercial entities. This is another operator, which will organize oil supplies to Belarus,” the official said.
Asked to comment on the news, Spokesman for Belneftekhim Concern Alexander Tishchenko told PrimePress that the NOC will not be a competitor for the state-run exporter of oil products Belarusian Oil Company (BelOil), which is also engaged in organizing alternative oil supplies to Belarus.
“On the contrary, with the advent of the NOC there will be more opportunities for attracting oil to Belarus,” said Tishchenko. In his words, it is possible that if there are certain commercial incentives, the NOC could also supply oil to the Belarusian refineries (Mozyr NPZ and Naftan) on a give-and-take basis.
“The NOC has been registered only recently, and we are not yet aware of the company’s commercial plans. But, obviously, as a private entity, the NOC will risk only its shareholders’ money when buying oil,” Tishchenko said. He would not name the NOC shareholders. “These could be both domestic and foreign companies,” he said.
Belarus has been diversifying oil supplies to its refineries (Mozyr Oil Refinery, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) after Russia cut supplies in January-March 2020 due to price disagreements with Russian large oil companies. Since early 2020, Belarus has purchased oil from Azerbaijan, Norway, Saudi Arabia and the United States via Klaipeda (Lithuania) and Odessa (Ukraine). End