Belarusian and Russian companies have agreed on the terms of the oil revenues' distribution from processing Russian oil, shipped duty-free to Belarus. Deputy Energy Minister of Russia Sergey Kudryashov reported on March 30 that the parties had managed to agree on margin distribution at a corporate level.
Sergey Kudryashov said that the Belarusian State Concern Belneftekhim had appealed to the Russian side to reduce the amount of the premium, going to the Russian oil companies, supplying oil to Belarus. The Belarusian side considers such a move consistent with the oil price growth above $100 a barrel, as mandated by the previous agreements, RIA «Novosti» news agency.
As Telegraf previously reported, the agreement among Belneftekhim with Russian companies provides for the possibility of lowering the formula for calculating oil price premiums, if the average world quotations for Urals oil are above $100 a barrel.
