Russia, Belarus agree on terms of premiums for Russian oil cos

MOSCOW, Mar 31 (PRIME-TASS) -- Russian and Belarusian companies have agreed on the terms to calculate premiums that Russian oil companies are to receive from oil supplies to Belarus, Russian Deputy Energy Minister Sergei Kudryashov told reporters late Wednesday.

Russian and Belarusian companies have also reached an agreement to share the profit generated from the sale of oil products produced from Russian duty-free oil supplied to Belarus, Kudryashov said.

Belarusian petrochemical company Belneftekhim has already applied to the Russian authorities asking to decrease the size of premiums as the world oil price has exceeded U.S. $100 per barrel, which is covered in an agreement signed by the sides in January, Kudryashov said.

In January, Russian companies supplied 360,600 tonnes of oil to Belarus, down 49.6% on the year, according to Belarus’ National Statistics Committee. The drop was attributed to long-running talks between Russia and Belarus on the terms of oil and oil product supplies in 2011.

In 2011, Belarus plans to import around 21.7 million tonnes of oil from Russia.


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