BELARUS NEWS AND ANALYSIS

DATE:

14/11/2010

Belarus reduces oil refining in 10 months by 26pct YoY

Interfax quoted national statistics committee Belstat said Belarusian oil refineries reduced refining by 26%YoY in January to October to 13.256 million tonnes of crude.

Primary oil refining declined 4.8% in October year-on-year to 1.449 million tonnes.

Belarus two refineries Naftan and Mozyr Oil Refinery produced 2.526 million tonnes of gasoline in the 10 months down by 9%YoY, 4.336 million tonnes of diesel fuel down by 20.6%, 3.540 million tonnes of fuel oil down by 40.4% less and 0.108 million tonnes up by 5.3%.

Production in October amounted to 327,100 tonnes of gasoline up by 78.3%, 529,400 tonnes of diesel fuel up by 27% more, 357,100 tonnes of fuel oil down by 22.5% and 9,400 tonnes lubricants up by 12.6%.

The decline reflects Russia decision to charge its usual export duty on about 70% of the 21.5 million tonnes of crude oil it is scheduled to export to Belarus under the balance for 2010. No duty was charged on 6.3 million tonnes. Minsk said it planned to reduce refining to 15.8 million tonnes, the minimum amount that will enable the refineries to operate at a profit. However, the refineries began operating at full capacity in October thanks to crude oil deliveries from Venezuela.

Belarus produced 1.417 million tonnes of oil in the first 10 months of 2010 down by 1.2%YoY. Russia delivered 10.182 million tonnes in the period, 43% less. Oil imports from Venezuela began in May 2010.

Source:

http://www.steelguru.com/russian_news/Belarus_reduces_oil_refining_in_10_months_by_26pct_YoY/175035.html