Belarus says oil contracts with Russia mutually beneficial

MINSK, Jan. 28, 2011 (Xinhua News Agency) -- Belarus said on Friday contracts to supply Russian oil to Belarus signed in Moscow on Tuesday are mutually beneficial and are a result of mutual concessions.

Russia will supply 50 percent of the specified oil volume as the tolling of Russian companies for processing at Belarussian refineries, and another 50 percent as the oil purchased by Belarussian refineries, said Marina Kostiuchenko, spokesperson for Belarus' national petrochemical company Belneftekhim.

Kostiuchenko said that the concessions made by Russian oil suppliers allow Belarussian oil refineries to purchase all the raw materials in 2011 themselves and to freely dispose of the produced oil.

Belneftekhim completed negotiations in Moscow on Tuesday and signed contracts with Russian suppliers on resuming oil deliveries to Belarus.

Under the contracts, Russia will supply Belarus with 21.7 million tons of oil starting in January at the price of 6.3 U.S. dollars per barrel, or 46 U.S. dollars per ton. Eighteen million tons of the oil will be supplied via pipelines.


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