SOCAR starts oil swap with Belarus

Baku, Fineko/ President Alexander Lukashenko of Belarus received yesterday in Minsk president of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev for discussion of two countries' oil trade on the basis of the swap.

In the meeting the SOCAR president stated that "we did a good job with the government of Belarus and found a solution to the issue of swap supplies of Azeri oil to Byelorussian refineries.

President Lukashenko, in turn, said that Belarus was ready to transfer its oil from Venezuela to Azerbaijan in exchange for Azeri oil deliveries to Byelorussian refineries.

"You win tens of dollars per ton, and we win as well. I think it's quite natural. Speech is of your oil pumping to our refineries via Odessa-Brody pipeline with access to the Druzhba oil pipeline and supply to our refineries," the Byelorussian leader said.

Venezuela and Belarus agreed on annual oil supply of 10 million tons of oil to Belarus since 2011. Currently, Venezuelan oil is delivered by tankers to the ports of Ukraine and the Baltic states, and from there by rail. First test pumping of oil from Ukraine to Belarus via Odessa-Brody pipeline was scheduled for this November.

"The time has come when we must take several steps forward," President Lukashenko said.

Otherwise, Belarus will buy oil on the same conditions in the Mediterranean or Black Sea basins, and its oil produced and purchased in Venezuela to sell in the markets of Latin and North America.


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