ZAO Belarusian Oil Company (BelOil) – a designated exporter of Belarusian petroleum products – is determined to promote direct shipments of petroleum products to the end customer as opposed to shipments via seaports, a source in the profile ministry said.
BelOil’s strategy is to sell a maximum of its products on high-premium markets of the neighboring states (Lithuania, Latvia, Poland, Ukraine). Direct supplies of petrol to end customers is a more cost-effective approach than shipments by sea, the official said.
BelOil also has a significant market share in the Baltic states: Lithuania – around 5%, Latvia – around 1.7%. BelOil mostly exports diesel fuel to these markets.
BelOil sales through its proprietary commodity distribution network in 2015 grew by 68% YoY to 11.576 million tons.
BelOil is determined to maximize sales of petroleum products on high-premium markets on the neighboring states. BelOil currently exports petroleum products to more than 20 countries.
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%. (Prime-TASS/Business World Magazine)
