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21 January 2020, 15:31

Belarus resumes export of petroleum products

MINSK, 21 January (BelTA) – Belarus has removed the suspension of the export of petroleum products, Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov told the media on 21 January, BelTA has learned.

“It was a short pause. The suspension has been lifted. For the time being we have yet not yet reached the export volumes envisaged in the business plan. But the export itself is not under the ban,” Andrei Rybakov said.

Andrei Rybakov explained that for any oil refiner there is a certain most effective product sale radius. “Then logistics comes into play. Of course, the nearest markets are the most efficient. We have to use seaports when promoting products to farther markets. When considering faraway countries we will look into current market trends and in general, world prices for petroleum products. But the most efficient markets are the domestic market and the markets of the neighboring countries. We will focus primarily on them,” he noted.

As BelTA has reported earlier, Belarus has suspended the export of petroleum products to meet the needs of the domestic market after Russia halted oil supplies to Belarus.

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