Ukraine, Belarus To Ink Agreement on Oil Transit

Ukraine and Belarus will sign an intergovernmental agreement by the end of the week on cooperation in transporting oil across Ukraine to Belarus, the Ukrainian Fuel and Energy Ministry has reported in a news release.

A ministry spokesman said signing the document would make it possible for the countries to work together on mutally-benficial oil projects.

"The Belarussian side has expressed its interest in co-operating on supplying oil to Belarussian refineries using Ukraine's oil transport system and railways in Ukraine and Belarus", according to the release.

The ministry says Ukraine has the technical ability to accept crude at its Black Sea ports and transport it to Belarus in the volumes Belarus requires - up to 4 million tons from May 1, 2010 through April 2011, with subsequent volumes of as much as 10 million tons of oil a year.


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