Belneftekhim Confirms New Price Deal With Russian Oil Producers

Mikhail Osipenko, deputy head of the Belarusian State Petrochemical Concern (Belneftekhim), has confirmed that Belneftekhim concluded contracts with Russian oil producers for supplies of crude in February, told BelaPAN.

The price stated in the contracts reportedly amounts to $225 per ton, including a $53-per-ton export duty.

In a televised comment on Tuesday, M. Osipenko said that the domestic refineries and the Russian oil companies would use a new price formula, without specifying.

"We are guaranteed to buy oil for at least $130 less than Poles, Germans and consumers of Russian oil in other countries," he said, noting that the new price formula would protect the domestic refineries from "oil price fluctuations in the Russian domestic market."

Mr. Osipenko also unveiled plans to set up a trading company that would export the refined petroleum products without middlemen.

The Komsomolskaya Pravda v Belorussii reported on Wednesday that representatives of Belneftekhim and the Russian oil producers would jointly adjust the oil price based on an average price of oil supplied to Poland, excluding transport costs. The price currently totals $172 in Poland.