MINSK, 18 May (BelTA) – In Q1 2020 the Belarusian refineries (Naftan and Mozyr Oil Refinery) reduced the output nu 40.6% to 2,76 million tonnes. The board of the Belarusian state petrochemical concern Belneftekhim reviewed the performance in Q1, BelTA has learned.
“The industrial production index was 83.8%in comparable prices in the first quarter. A total of 424,000 tonnes of oil was extracted (up by 1.9% as against January-March 2019). The volume of oil refining in Q1 amounted to 2.76 million tonnes (which accounted for 59.4% year-on-year,” Belneftekhim informed.
In January-March, Belneftekhim met two of three key performance indicators: return on sales in the industry and energy conservation. According to Belneftekhim, foreign trade was affected by several factors: a decline in physical volumes of exports of petroleum products, a 24% drop in prices for Urals oil, from $63.2 to $48.1 per barrel, the refining of Belarusian oil bound for export and the reduction in export prices for chemical and petrochemical products. As a result, exports amounted to $921.2 million, or 44.2% year-on-year (with a target of 103.5%).
The board of the concern approved an updated set of activities to reduce costs of production and marketing of products (works, services) in its organizations. The board reviewed the status of implementation of investment projects, performance of entities of its distribution network, measures to improve non-core assets, performance of social facilities, and other important matters.
