Belarus creates "Belarusneft" oil production enterprise

MINSK, September 16 (Itar-Tass) -- Belarus has created a big state-run oil production enterprise - Belarusneft under a decree issued by the Belarusian president.

The purpose is to complete creating an entire network of oil product supply to Belarus and carry out full-scale reconstruction and modernization of oil production capacities, the press service of the Belarusian president told Tass on Saturday.

The Belarusneft state enterprise was created on the basis of a unitarian enterprise with the same name and incorporated a number of affiliated enterprises - Lidanefteproduct, Pukhivichinefteproduct and Seismotechnika enterprise.

The reorganization is expected to promote oil exports, improve the system of the realization of oil products on the home and foreign markets and improve the competitiveness of Belarusian oil products, the decree said.

Belarusian oil producers take part in joint projects with oil companies of Russia, Syria, Vietnam, Cuba, India, the United States and a number of countries of Western Europe.