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Belarus cancels suspension of petroleum products export

The closest markets will be the most efficient ones, whereas further supplies will depend on global prices of petroleum products, according to the head of Belneftekhim concern

MINSK, January 21. /TASS/. Belarus has canceled suspension of petroleum products exports, head of Belneftekhim concern Andrei Rybakov said on Tuesday.

"That was a short period of suspension. The suspension has been cancelled. We have not yet reached the volumes of export envisioned by the business plan though. Export itself is not prohibited, however," the BelTA news agency quoted Rybakov as saying.

"The closest markets will be the most efficient, of course, whereas further supplies — through ports — will depend on the environment of the target market, and on global prices of petroleum products. Though the most efficient markets are the national and the closest ones, on which we will focus in the first place," he stated.

Belarus failed to reach an agreement with Russian oil companies on terms of oil supplies starting January 1, 2020 by the end of last year. Refineries in Novopolotsk and Mozyr operate with minimum utilization now. Amid this background, Belarus has suspended export of petroleum products to ensure the demands of the domestic market.