MINSK, 14 April (BelTA) – The Belarusian state petrochemical concern Belneftekhim and the State Oil Company of the Azerbaijan Republic (SOCAR) have signed a memorandum of understanding. The document was signed by Belneftekhim Chairman Andrei Rybakov and SOCAR President Rovnag Abdullayev, BelTA learned from Vetsnik Belneftekhim magazine.
The memorandum provides for expansion of opportunities of the parties in the production and sale of oil and petroleum products. The main areas of cooperation are focused on improving interaction in the organization of Azerbaijani oil supplies to Belarus, and also the activation of the dialogue between producers and consumers of hydrocarbon resources, technical audit at Belarusian oil refineries to improve efficiency.
The memorandum stipulates cooperation in selling oil products produced in Belarus, including jointly with Belarusian exporters, cooperation in implementing joint investment projects, as well as cooperation in selling SOCAR oil products in the domestic market of Belarus.
