Belarus Considers Purchasing Russian Oil at Global Price

Belarus is planning on buying oil from Russia at world market prices, TASS reported quoting Belarusian First Deputy Prime Minister Dmitry Krutoi said on Sunday.

“As for the agreement on oil, the oil market, the Russian side has agreed that Belarusian oil refineries will buy oil under agreements with Russian oil companies at the world market prices,” he said, according to BelTA agency.

“This is what our president [Alexander Lukashenko], the Belarusian side insisted on throughout the talks,” he said. “Belarus doesn’t need any special exclusive terms. We want to buy oil at global prices.”

Allegedly, Russia’s President Vladimir Putin agrees with the same approach.

“Moreover, he promised that the Russian government will offer all possible assistance in our work with Russian oil companies to see to it that supplies to Belarusian oil refineries are carried out on the terms I mentioned above,” he said, adding that “the intensity of contacts between our economic entities has increased.”

“And we see that about 100 million tonnes of oil out of the overall output in Russia are produced and supplied by not very big companies,” he noted.

Nevertheless, in his words, the Belarusian side will continue talks with “the big five” Russian oil majors, namely Rosneft, Lukoil, Tatneft and others.
“The Russian energy minister [Alexander Novak] has promised to meet with all of them soon to outline the new conditions for the work on the Belarusian market and facilitate new contracts. However Belneftekhim concern and our refineries will continue to work with absolutely all companies on the Russian oil market. We will begin such talks literally next week,” he said.
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