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Gomeltransneft Druzhba's lost earnings due to polluted oil at $23m

Economy 09.09.2019 | 17:41

MINSK, 9 September (BelTA) – The oil transport company OAO Gomeltransneft Druzhba has failed to get $23 million in earnings due to the polluted Russian oil situation, BelTA learned from the company's Director General Oleg Borisenko's interview with the Petrochemistry website.

According to the source, the oil pipeline system was shut down for a long time. It had a negative effect on Gomeltransneft Druzhba's financial performance. The company failed to get $23 million in earnings. In order to recover its income, the company has to either pump as much oil as it is supposed to this year or oil transportation rates need to be raised.

In the course of negotiations with Russian partners an agreement was reached on the need to raise the tariffs on oil transportation across Belarus. “It was decided that the rates will be raised by 3.7% as from 1 September 2019. At the same time the Russian side vowed to secure the oil transportation volumes that will allow Gomeltransneft Druzhba to earn as much as the company is supposed to in line with this year's business plan. It is the first stage. Once annual performance figures are available, the situation concerning oil transportation via the Belarusian part of the oil pipeline system will be analyzed. We will make up our minds on further actions,” the company's director general noted.

BelTA reported earlier that on 19 April 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. 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.

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