Following the Belarusian oil product export monopoly's suspension of light oil product exports to the Baltic countries due to low-quality Russian crude, Klaipedos Nafta, which handles these exports, says it expects Belorusskaya Neftyanaya Kompaniya (Belarusian Oil Company, or BNK) to meet its annual contractual obligations.
© DELFI / Šarūnas Mažeika

"We have received a notification from BNK that part of oil product supplies through Klaipedos Nafta's terminal has been suspended and we are currently waiting for more detailed information from the customer," Darius Silenskis, oil business director at Klaipedos Nafta, told BNS.

"We are working with the customer on the basis of a take or pay contract. Therefore, we believe that the annual contractual obligations will be fulfilled," he added.

Under Klaipedos Nafta's three year-contract with BNK, which expires in late October 2019, oil products come to Klaipeda from Belarus' key refineries in Mozyr and Naftan. Information as to the volume of Belarusian oil products handled via Klaipeda is not publicly available.

BNK said it has suspended gasoline and diesel fuel exports to the Baltic countries, Poland and Ukraine. BNK Deputy CEO Sergei Grib said the company was forced to cut oil-refining volumes after receiving low-quality Russian oil.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Swedbank's pension funds invest EUR 200 mln into sustainable business

Pension funds managed by the Swedbank financial group are investing 200 million euros, or a sixth...

Belarus complains: Lithuania's blocking Minsk-EU agreement

Belarusian representatives complained in Brussels last week that Lithuania is blocking the...

New trends in startup world: unicorns' aspiration is not key anymore

The question when the first unicorn with over 1 billion of US dollars in value will appear in the...

Shopping frenzy: biggest retail chains plans allocate millions of euros for new stores

Lithuania's five biggest retail chains – Maxima , Lidl , Rimi, Iki and Norfa – have...

Construction launched on EUR 15 mln hotel in Kaunas

Construction is being launched on a 15-million-euro Moxy hotel, part of the Marriott Group , in...