05-09-2012 09:40 Belarus
Source: Belarus’ petroleum product exports to Russia up 5.3 times in Jan-Jun to $64m
Belarus exported $64 million worth of petroleum products to the Russian Federation in January-June 2012, up 5.3 times on the year, a source in the profile ministry told Prime-TASS.
In physical terms, exports of petroleum products to Russia grew 6.1 times on the year to reach 98,700 tonnes.
Until recently Belarus would view Russia as a premium market for exports of petroleum products. However, following a decline in engine fuel prices in Europe, Russia became an interesting market for Belarusian manufacturers of oil products, the government official told Prime-TASS.
Another factor that stands behind growing exports of Belarusian petroleum products to the Russian market is Russia’s new excise policy aimed at stimulating supplies of Euro-4 and Euro-5 standard engine fuel.
As previously reported, Belarus and Russia agreed on a common plan of supplies of energy resource for 2012. According to the plan, Belarus is supposed to supply Russia with 5.8 million tonnes of premium quality petroleum products in 2012.
All in all, Belarus’ exports of petroleum products grew 40.2% on the year to reach 9.8 million tonnes worth $8.44 billion.End