Ukraine mulling crude oil refining in Belarus - Deputy PM

Ukraine mulling crude oil refining in Belarus - Deputy PMUkraine is mulling refining of crude oil at an oil refinery in Belarus on a tolling basis, Deputy Prime Minister of Ukraine Hennadiy Zubko has said.

According to a posting on the government's website, after the 24th meeting of the intergovernmental commission for trade and economic cooperation co-chaired by Zubko and Deputy Prime Minister of Belarus Vladimir Semashko, Belneftekhim Concern and public joint-stock company Ukrtransnafta are instructed to work on all economic aspects of crude oil supplies and refining by the end of 2016.

First Deputy Director General of Ukrtransnafta Andriy Pasishnyk told reporters that the refining of Azeri oil or Iranian oil as part of the launch of the Odesa-Brody pipeline is being discussed.

He said that the company receives many proposals from traders who are ready to ship oil to Mozyr for refining.

"These proposals coincided with the reduction of crude oil supplies to Belarus from Russia and the capacity of refineries become unloaded," he said.
Pasishnyk said that it is unviable for Belarus to buy Caspian crude oil compared to Russian oil shipments with benefits. They can permit refining on a tolling basis and earn something.
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