Venezuela confirms plans to supply up to 10 million tonnes of oil to Belarus in 2011

Interfax reported that Venezuela is confirming its readiness to supply Belarus with up to 10 million tonnes of oil annually in 2011-2012 as well as the country intention of fully complying with oil swap contracts with Azerbaijan.

Mr Americo Dias Nunes Venezuelan Ambassador to Belarus said "Venezuela undertakes to deliver up to ten million tonnes of oil to Belarus in 2011-2012. But considering the high transport costs for direct shipments, we have proposed the delivery of Azerbaijani oil under swap contracts. This means that Azerbaijan is receiving Venezuelan oil directly from Venezuela and selling it on the markets of Caribbean-basin countries. All contracts will be fulfilled and there is no problem with this."

Mr Nunes said "The issue is one of substitution, of additional deliveries, so as to ensure these ten million tonnes for Belarus. He said that the main goal of cooperation between his country and Belarus is supplying both Belarusian refineries so they can operate normally."

Mr Nunes said matters involving Venezuelan companies buying into Belarusian refineries will be discussed at a bilateral economic trade commission meeting to be held in Caracas this month. He said that "Venezuela will in the near future propose that Belarus host a meeting of the joint commission. It will discuss issues of Venezuela's involvement in the ownership of Belarusian oil refineries. We will discuss the refineries' investment projects, other issues and the fulfillment of joint agreements. It's possible that a decision will be made there."

He added that the commission also plans to finalize the coordination of timing for an official visit to Venezuela by Belarusian President Mr Alexander Lukashenko. He also said Venezuela expects Belarus to decide specifically when the commission will meet. But it will be in February and the location will be Caracas.

(Sourced from Interfax)


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