Transneft Resumes Oil Shipments in the Druzhba to Belarus

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Transneft Resumes Oil Shipments in the Druzhba to Belarus

Tue, 10/27/2020 - 10:38
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Transneft office in the Evolution skyscraper, Moscow (copyright by Shutterstock/Evgeniy Vasilev)
Transneft office in the Evolution skyscraper, Moscow (copyright by Shutterstock/Evgeniy Vasilev)

Russian oil pipeline operator Transneft is sending 133,000 tons of oil through the Druzhba Pipeline System to Belarus following an earlier decision last week to stop providing crude to its western neighbor.

Belarusian refineries have received the first batch of crude oil which is sufficient to ensure ``"non-stop operation of the country's refineries in January 2021'', the Belarusian state-run oil company Belneftekhim said on Saturday.

The oil will come at a discounted price while negotiations for resuming regular imports continue, according to a Belneftekhim statement.

The agreement took place in the wake of the meeting between Russian Federation President Vladimir Putin and Belarussian President Alexander Lukashenko who notably had failed to reach a deal earlier in the month.

The two Belarusian refineries have since then been operating at low capacity and running on reserves. On Friday, Minsk announced it was suspending its own oil exports, which contribute up to 20% of annual GDP.

Belarus relies on Russia for more than 80% of its overall energy needs.

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