Belarus’ proceeds from exports of domestic crude oil reduced by 32.3% YoY in January-July to $253.704 million, Belarus’ National Statistical Committee (Belstat) said in an official report.
In January-July Belarus exported 945,900 tons of crude oil, up by 0.7% YoY.
Belarus’ sole authority on oil exports is a state-controlled monopoly officially designated as Belorusneft. Germany remains the only export destination of Belarusian oil.
Since 2011, in accordance with a Common Economic Area package of deals, Belarus has been free to export the entire volume of its domestic crude.
As previously reported, in 2015 Belarus exported 1.615 million tons of oil worth $579.325 million (down by 48.5% YoY in value terms); 2014 – 1.617 million tons worth $1.124 billion, 2013 – 1.619 million tons worth $1.241 billion. (Prime-TASS/Business World Magazine)