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Belarus prepares long-term contracts with Azerbaijan for oil procurement

09 June 2020 11:56 (UTC +04:00)

Belarus traders prepare long-term contracts with their partners from Azerbaijan and Saudi Arabia to secure alternative sources of oil procurement, said Ruslan Labut, head of foreign economic relations department of "Belneftekhim" concern, "APA-Economics" reports citing Belarusian printed media.

"The alternative option has turned into a new reality. Even under the circumstances of offering by the Russian suppliers of the most favorable conditions, Belarus will not refuse alternative oil procurement directions. The energy security requires compliance with strict rules and the oil traders of Belarus are preparing long-term contracts", R. Labut noted.

Note that during January-April of this year, SOCAR sent to Belarus oil in the volume of 3.83 mln. barrels. Thus, from beginning of the year, SOCAR sent to Belarus 2.05 mln. barrels of the Azerbaijani oil. Besides, during the past period, the company sent to the aforementioned country the third-party producers’ oil in the volume of 1.78 mln. tons.

Remind that the Belarusian side intends to buy from SOCAR oil in the volume of 1 mln. tons during this year.