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Belneftekhim eager to settle matter of compensation for polluted Russian oil by year end

Economy 12.12.2019 | 17:12

MINSK, 12 December (BelTA) – Belneftekhim intends to settle the matter of compensation for polluted Russian oil by the end of the year, BelTA learned from Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov on 12 December.

The official said: “We are working with the colleagues to put the matter to rest. We are in the final stage of working out the solutions that will allow us to finally turn the page and irreversibly I hope. There is no deadline [for settling the matter of compensation for polluted oil] but we would certainly like to begin the new year with a clean slate.”

Asked about the intended size of the compensation as large as $70 million, the official explained it is one of the calculated options.

“For now negotiations are in progress between Belneftekhim and the Russian Federation Energy Ministry. We hope the worked out solutions will allow us to turn this page,” Andrei Rybakov concluded.

BelTA reported earlier that on 19 April 2019 Belneftekhim registered a massive decrease in the quality of the Russian oil mixture Urals coming via the oil pipeline system Druzhba. The concentration of chlororganic compounds in oil exceeded standard thresholds dozens of times over. A number of countries stopped taking and processing Russian oil as a result. Both Belarusian oil refineries – OAO Naftan and Mozyr Oil Refinery – were forced to reduce their workload and suffered financial losses. Damage was also caused to the pipeline system.

Belneftekhim: Belarusian oil refineries can process 24m tonnes of Russian oil in 2020Belneftekhim: Belarusian oil refineries can process 24m tonnes of Russian oil in 2020
“The document provides for 24 million tonnes of oil. This is the maximum possible amount that we can process,” Andrei Rybakov noted.
Higher tariffs expected to compensate Belarus for lower revenues from oil transitHigher tariffs expected to compensate Belarus for lower revenues from oil transit
When asked whether raising transit tariffs was being discussed as a way to compensate for Belarus' lower revenues from oil transit, the Belneftekhim chairman said the matter was being discussed as part of negotiations on the next year's tariffs.
Belarus' Belneftekhim confirms signing 24m tonne oil delivery balance sheet with RussiaBelarus
The Belarusian state petrochemical concern Belneftekhim has confirmed signing the indicative oil delivery balance sheet with the Russian Federation. This balance sheet provides for the delivery of 24 million tonnes of oil from Russia to Belarus in 2020.

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