In January-June Belarus exported 2.25 million tons of oil products to Ukraine, up by 64% YoY, a source in the relevant ministry reported.
Belarus’ proceeds from exports of petroleum products to Ukraine grew by only 4% YoY, to $823.4 million, due to the global decline in oil prices.
Belarusian petroleum products are shipped to Ukraine via BelOil-Ukraine, and also via Russian companies, which have their crude oil processed in Belarus on the give-and-take basis.
Belarus Petroleum Company (BelOil) was founded in May 2007. The main shareholder is Belorusneft (52% of shares), with Naftan and Mozyr refineries each holding a stake of 24%. BelOil facilitates exports of oil products manufactured by its shareholders, procures crude oil, has it processed on the give-and-take basis at Belarusian oil refineries, and facilitates cargo forwarding.
The company has a subsidiary in Poland, called BelOil Polska (founded in 2011).
BelOil also has a Ukraine-based representative office – BelOil-Ukraine, established in February 2010. (Prime-TASS/Business World Magazine)