Belarus and Russia authorize 3.7% increase in oil transportation tariff as from 1 September

09/08/2019 08:53 Oil Market


Belarus and Russia have come to an agreement on raising the tariff on transporting oil across the Belarusian territory by 3.7% as from 1 September, the press service of the Belarusian state petrochemical concern Belneftekhim told BelTa after negotiations on 6 August.

The source said: “Due to a lower amount of Russian transit oil pumped via the oil pipeline Druzhba in Q2 2019 the Belarusian operator of the oil pipeline – Gomeltransneft Druzhba – has requested the bodies in charge of regulating the tariff to consider revising the oil transportation tariff ahead of schedule.”


As a result of negotiations the sides reached an agreement in principle to help Gomeltransneft Druzhba hit this year's earnings target.


“Today neither the Russian side nor the Belarusian one can definitely say how much oil will have to be transported in Q4 2019, this is why we've agreed to initially raise the tariff by 3.7% and review the matter once results of this year's work are available. Thus, this year's results will be used to analyze the situation relating to oil transportation via the Belarusian section of the oil pipeline and the size of further adjustments of the tariff will be determined,” Belneftekhim said.


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