BELARUS NEWS AND ANALYSIS

DATE:

31/01/2007

Belarus says contracts of Russian oil supplies advantageous

MINSK, January 31 (Itar-Tass) - Belarus has concluded advantageous contracts of oil supplies with Russia for this year, the Belneftekhim state-owned petrochemical concern confirmed on Tuesday.

"Agreements have been concluded with all companies which work with Belarus, foremost with Surgutneftegaz, LUKOIL, Tatneft, Rosneft and Rusneft," deputy chairman of Belneftekhim Mikhail Osipenko told reporters.

The contracts have been concluded under a new pricing formula, quite advantageous for Belarus. According to Osipenko, the price of oil for Belarus will "be at least 130 dollars cheaper than for consumers of Russian oil in Poland, Germany and other countries."

In this connection, no dramatic increase in prices of petroleum products is expected in the republic. "Perhaps, we may yet hike prices on the domestic market by five percent in the nearest future but no more price increases are likely until the end of this year, provided we have no force majeure circumstances," Osipenko noted.

Source:

http://www.itar-tass.com/eng/level2.html?NewsID=11204688&PageNum=0

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