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SOCAR, Belneftekhim to expand opportunities in oil products’ output, sale

Oil&Gas Materials 15 April 2021 09:48 (UTC +04:00)
SOCAR, Belneftekhim to expand opportunities in oil products’ output, sale

BAKU, Azerbaijan, Apr.15

By Leman Zeynalova – Trend:

Azerbaijan’s state oil company SOCAR and Belarusian State Concern for Oil and Chemistry, also known as Belneftekhim have inked a Memorandum of Understanding, Trend reports citing SOCAR.

The document envisages the following:

Expansion of opportunities in production and sale of oil and oil products;

Developing relations in arranging Azerbaijani oil supplies to Belarus;

Expanding the dialogue between producers and consumers of hydrocarbon resources;

Conducting technical audit at Belarusian oil refineries in order to increase their operational efficiency;

Sale of Belarusian oil products;

Joint investment projects;

Partnership in selling oil products by SOCAR in Belarusian market.

The document was signed by SOCAR’s President Rovnag Abdullayev and Belneftekhim’s chairman Andrei Rybakov.

Belarus plans to purchase 1 million tons of oil from Azerbaijan in 2021, said earlier Belarusian ambassador to Azerbaijan Andrei Ravkov.

“We plan to buy 1 million tons this year. The supplies are ongoing evenly. Around 270,000 tons have already been delivered to date. A tanker with 90,000 tons is now on the way, moving to the place of unloading," the ambassador said.

Ravkov recalled that Azerbaijan supplied about 800,000 tons of oil to Belarus in 2020.

Oil was supplied from Azerbaijan to Belarus via Odessa-Brody pipeline as early as in 2011. The contract envisaged the supplies in the volume of four million tons, but the actual volume of shipments reached about 900,000 tons.

Oil supplies to Belarus in the southern direction, through Ukraine, were resumed due to a lack of import from big Russian companies caused by disagreements over the price.

Following the lack of oil supply from Russia, Belarus launched its alternative import - through the port of Klaipeda via railway to the Naftan refinery and through the port of Odessa to the Mozyr refinery through the Odessa-Brody and Brody-Mozyr oil pipelines.

Alternative oil supplies were also launched from Norway and Azerbaijan. In May 2020, Belneftekhim began to import oil from Saudi Arabia and the US.

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Follow the author on Twitter: @Lyaman_Zeyn

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