Russia to supply 5.85m tonnes of oil to Belarus in Q4 2014

MOSCOW, 8 August (BelTA) – Russia will supply Belarus with 5.85 million tonnes of oil to Belarus in the fourth quarter of 2014. The agreement was reached in a meeting between Prime Minister of Belarus Mikhail Myasnikovich and Energy Minister of Russia Alexander Novak in Minsk, BelTA learnt from the press service of the Russian Energy Ministry.

The talks were focused on additional supplies of the Russian oil to Belarus in Q4 2014 and the balance of oil stock and oil products for the Union State in 2015. The parties agreed to approve the balance for 2015 by 15 September 2014.

The head of the Energy Ministry confirmed Russia's readiness to deliver 23 million tonnes of oil next year under the condition of Belarus' counter deliveries of 3.3 million tonnes of oil products, the press service noted. The parties also discussed the possibility to increase the transit of the Russian oil across Belarus.

During the meeting representatives of Belarus suggested analyzing the implications of the Russian "tax maneuver" for the country. Alexander Novak stressed that under the "maneuver" terms the refining margin at the Belarusian oil refineries will stay positive and said it was possible that a group of experts from the Energy Ministry and the Finance Ministry would be set up to conduct a comprehensive analysis of the possible impact of the reform on the Belarusian oil refining industry," the press service of the Energy Ministry of the Russian Federation said.