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Belarus to receive 23 million tons of Russian oil next year

Russia will supply 23 million tons of crude oil to Belarus in 2015 and 24 million annually between 2016 and 2014, including 23 million tons via pipelines, RIA Novosti reported on Friday with reference to the Russian Government’s directive.

The amount of Russian oil that may be supplied to Belarus free of export duty may be increased in 2021 by mutual consent, the report said.

An agreement on the amounts of oil that Belarus will receive between 2015 and 2024 was signed during a summit in Astana, Kazakhstan, on May 29.

The full text of the agreement has not yet been published.

Belarus and Russia also signed a deal whereby the former will be allowed to keep a total of $1.5 billion in export duties on petroleum products next year. At present Belarus is required to transfer into Russia's treasury all revenues from export duties on petroleum products made from Russian crude oil. The amount varies from $3.5 billion to $4 billion every year.

Belarus repeatedly asked Russia for 23 million tons of oil in 2013. However, according to Belarusian government sources, it received only about 21.3 million.

Russia has agreed to supply 11.5 million tons of oil in the first half of 2014. It is unknown how much oil will be supplied in the latter half of the year.

Russian government officials have said on a number of occasions that the amount of crude oil to be supplied to Belarus in 2014 will depend on the outcome of five industrial integration projects. //BelaPAN