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23 November 2022, 11:09

Belarus' vice premier: Export of oil products did not stop thanks to new export schemes

MINSK, 23 November (BelTA) - New export schemes for oil products helped keep their export afloat, Belarusian Deputy Prime Minister Piotr Parkhomchik said at a joint session of the House of Representatives and the Council of the Republic of the National Assembly of Belarus on 23 November, BelTA has learned.

“While losing key markets this year the organizations of the industry have had to optimize capacity utilization by balancing the volume of production and sales in order to avoid overstocking. The industry has implemented compensatory measures, which have made it possible to reverse the downward trend in development indicators. In particular, new export schemes for oil products were developed in the oil refining sector, which made it possible not to stop their export,” said Piotr Parkhomchik.

According to him, the country is working on an alternative direction for the export of oil products - through the southern seaports of the Russian Federation. “The agreement with Russia on the application of formula pricing for oil made it possible to purchase oil at a price acceptable to us,” the deputy prime minister said.

“Thanks to Russia's decision to apply the damping mechanism to Belarusian oil products, our refineries were able to supply oil products to the Russian market. We have reached preliminary agreements on monthly supplies to this market of up to 100,000 tonnes of diesel fuel and up to 50,000 tonnes of gasoline using this coefficient,” Piotr Parkhomchik added.

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