The final volume of the shipment of oil products to Russia will be determined by the market, BelTA learned from Deputy Prime Minister of Belarus Vladimir Semashko during the international expo Atomexpo Belarus on 22 April. “Market will determine everything. Our obligation to supply 3.1 million tonnes [of oil products] is not set in iron. The balance documents are of indicative nature. For now the balance documents are observed,” specified Deputy Prime Minister of Belarus Vladimir Semashko when asked whether this year's planned delivery of Belarusian fuel to Russia will be revised. Vladimir Semashko remarked that Belarus had temporarily suspended fuel deliveries to Russia in view of the falling exchange rate of the Russian ruble. “For instance, the price was $0.52-0.54 per liter of fuel in Smolensk. We had considerable losses per tonne of delivered oil products,” noted the official. Since the exchange rate of the Russian ruble is on the rise, decisions will be made to supply products made by Belarusian oil refineries to the Russian market. The deputy head of the Belarus government reminded that in accordance with the signed balance documents Russia will supply 23 million tonnes of oil to Belarus in 2015. In return, Belarus will have to deliver 3.1 million tonnes of oil products to Russia. “When the Eurasian Economic Union was being established, we specified that if the price for diesel fuel and gasoline delivered to the Russian Federation is lower than the prices in other markets, Belarus will not make deliveries at a loss,” stressed the Deputy Prime Minister of Belarus. Mass media reported recently that the energy ministries of Belarus and Russia are busy developing methods to determine the difference in prices for fuel on Russia's domestic market and on foreign markets in order to allow mutual corrections of the deliveries of oil and oil products. In particular, the effective agreement stipulates that if fuel prices in an export market and the Russian market differ considerably, Belarus can suspend the delivery of oil products. “But this proviso is too abstract. It is unclear what the considerable difference is. There are no methods. Now the Energy Ministry and colleagues are busy developing them,” mass media quoted Russian Energy Minister Alexander Novak as saying. In March 2015 Belarus took advantage of the proviso that allows suspending the deliveries until consultations are held and additional measures are worked out if the profitability of sales is considerably reduced.
Written by belta.by
