Belarusian Oil Company eager to sell as much oil products to Ukraine in 2015

In 2015 ZAO Belarusian Oil Company will supply oil products provided it is economically advisable and the solvency of the customers is guaranteed, the company’s Director General Alexander Demidov told BelTA.

“We expect that the delivery of oil products in 2015 will be as large as this year, however, the volume may be decreased or increased,” said the head of the company. He remarked that the situation will not result in an excessive stock in storage of Belarusian oil refineries because Belarusian Oil Company is ready to promptly sell oil products to several markets at once.

“Several factors are at play as far as the signing of contracts is concerned, including the solvency of clients. But prices are the primary factor. Prices can vary by a lot within one week. If the mentioned factors are addressed, then I see no problems with shipments to the Ukrainian market,” stated Alexander Demidov.

The executive specified that Belarus’ total export of oil products to Ukraine in 2014 is expected to reach 3 million tonnes.

According to Alexander Demidov, Ukraine’s demand for oil products will stay high in the short term. At present Ukraine accounts for about 20-25% of the sales by Belarusian Oil Company. Diesel fuel is the primary commodity shipped from Belarus to Ukraine.

Speaking about Russia, the source said that there are plans to ship 1.8 million tonnes of gasoline to Russia in 2015. This year’s deliveries are expected to be close to 1.6-1.7 million tonnes. So far about 1.5 million tonnes of Belarusian gasoline has been shipped. “It is worth noting that export comes second after satisfying the demand on the home market,” noted Alexander Demidov.

ZAO Belarusian Oil Company started commercial operation in 2007. At present the company is Belarus’ top exporter of oil products. The company focuses on consolidating the export volumes of the oil products made by OAO Naftan and OAO Mozyr Oil Refinery. Belarusian Oil Company exports about 800,000 tonnes of oil products every month. The company operates daughter enterprises in the UK, Ukraine, Russia, Poland, and Latvia.