Minsk, Feb 28 (NNN-BELTA) Belarus intends to set up a state-run oil company by July 1, 2007, First Deputy Prime Minister Vladimir Semashko declared Tuesday at a session of the Presidium of the Council of Ministers.
The Belneftekhim concern has been working to set up an oil trading company. Now negotiations with banks are underway. The concern has already gained experience in starting up companies of the kind after opening Belarusian Potassium Company.
Two oil refineries, namely Belarusian Oil Trading House and Belorusneft, will set up a joint authorized fund and open an oil trading company in Western Europe.