Belneftekhim announces acquisition of 1st batch of oil in Russia at price without premium
MINSK. Jan 4 (Interfax) - Belneftekhim has announced that the first contract with a Russian oil company setting a price without a premium.
"Today documents are being finalized with a Russian company for the shipment of the first batch of oil procured at a price without a premium," Belneftekhim said on its website.
"Work on signing contracts on the delivery of hydrocarbons from the Russian Federation to the Republic of Belarus with a price that does not envisage a premium for suppliers is continuing," it said.
"The amount of crude due to be shipped in the near future as well as the existing stockpiles will help ensure the uninterrupted operation of domestic oil refineries in January 2020," Belneftekhim said.
Belneftekhim, however, told Interfax that it could not name the Russian company with which it signed this year's first contract on crude shipments to Belarus.
Russian oil companies halted crude shipments to Belarus on January 1, 2020 over price disagreements. According to oil market sources, Belarus demanded the cancellation of the premium to the price of duty-free oil shipments, citing a rise in crude prices due to the Russian tax maneuver in the oil sector.
According to Belneftekhim, at present Belarus buys Russian oil at 83% of the global price.
Due to the absence of oil imports, Belarus suspended the export of petroleum products on January 1.