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Belarusian oil refineries' crude oil refining volume 1.5 times up in Q1 2021


In Q1 2021 Belarusian oil refineries processed 1.5 times more oil than they did in January-March 2020, BelTA learned from a recent interview of Chairman of the Belarusian state petrochemical concern Belneftekhim Andrei Rybakov with the concern's magazine Vestnik Belneftekhima.

According to the source, in Q1 2021 oil shipments from the Russian Federation to Belarus were steady and prices for the products Belneftekhim makes kept rising. As much as 400,000 tonnes of oil was extracted in Belarus in Q1 2021. Belarusian oil refineries processed 4.2 million tonnes of oil or 1.5 times as much as in Q1 2020. The output of oil products rose by about one half to 3.6 million tonnes. Belarus exported $1 billion worth of oil products.

Belneftekhim hit its performance targets in Q1 2021. The merchandise export growth rate exceeded 151%, with the profit margin at 8%. The industrial output index totaled 117.5%. The stock in storage dwindled. Proceeds from sales rose by about 37%. Net profit was on the rise as well.

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