Belarus Offers Mozyr Refinery to Rosneft, Asks for More Oil

December 20, 2013

Raising oil processing up to 20 million tonnes by 2020 is one of the conditions for the possible privatization of the Belarusian company Mozyr Oil Refinery by the Russian company Rosneft, Vice Premier of Belarus Piotr Prokopovich told the joint session of the House of Representatives and the Council of the Republic of the National Assembly of Belarus on 20 December, BelTA has learned.

“We have forwarded the proposal — raise the oil processing volume up to 20 million tonnes by 2020 — to Rosneft as a condition of the possible privatization of Mozyr Oil Refinery,” said the Vice Premier. “We would like to process part of the oil shipped to Europe via Belarus and make products with a high added value and sell them on foreign markets and on the home market as import substitutes”.

According to Piotr Prokopovich, Rosneft said it needs time to think about the proposal: “I think they will make up their mind within one month. If they back our proposal, it will be a very large investment project (in addition to what we plan now as large as about $4.5 billion) and it will bring about a totally different state of affairs in economy in this area”.

Copyright: BelTA, 2013