Belarus-Russia oil talks in progress

Photo: belta.by

Belarus and Russia are still in talks on oil supplies, Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov told the media.

“Consultations between companies are underway. So are certain consultations at the level of the Ministry of Energy of the Russian Federation and the Belneftekhim concern. Naturally, we expect these talks to proceed at the higher level,” the concern chief said.

“As far as the price is concerned, today the customs duty on the Russian oil is substantial and accounts for a large part of the price for the Urals blend. At the same time we are fully aware of the fact that the tax maneuver will zero it out in a couple of years and by 1 January 2024 subsidies in the form of the customs duty will be brought to naught. In other words, the prices for the Urals oil will approach the world’s average,” the concern chief added.

In his words, the Belarusian head of state has recently hosted a meeting on oil-related matters. During this meeting the president heard out a report on major trends on the global market of oil and petroleum products, the role and place of Belarus and its oil refineries on the market, the efforts to diversify oil supplies and find alternative sources and supply channels of oil, progress in the oil talks with Russia, as well as plans to improve the efficiency of Belarusian oil refineries through optimizing their operation and sales of petroleum products abroad.