{"id":11399,"date":"2022-04-20T11:44:18","date_gmt":"2022-04-20T08:44:18","guid":{"rendered":"https:\/\/api.pozirk.online\/longreads\/belarus-may-have-secured-favorable-oil-gas-deals-but-market-access-restrictions-limit-its-ability-to-cash-in\/"},"modified":"2026-02-24T20:29:13","modified_gmt":"2026-02-24T20:29:13","slug":"belarus-may-have-secured-favorable-oil-gas-deals-but-market-access-restrictions-limit-its-ability-to-cash-in","status":"publish","type":"longreads","link":"https:\/\/pozirk.online\/en\/longreads\/11399\/","title":{"rendered":"Belarus may have secured favorable oil, gas deals, but market access restrictions limit its ability to cash in"},"content":{"rendered":"<p>\n <span>By Aliaksandr Klasko\u016dski, BPN<\/span>\n<\/p>\n<p>\n\t * Reprinting is not allowed\n<\/p>\n<p>\n <b>Minsk and Moscow have reached a favorable oil deal and fixed the price of natural gas until the end of the year, said Juryj Nazara\u016d, Belarus\u2019 deputy prime minister. He said that Belarus and Russia have stopped using the U.S. dollar exchange rate in gas and oil price calculations.<\/b>\n<\/p>\n<p>\n\t He stopped short of specifying the prices. Belarus has paid $128.52 for 1,000 cubic meters of natural gas until recently. Russia\u2019s price for crude oil accounted for about 90 percent of the market price recently, after Moscow had altered the taxation system.\n<\/p>\n<h2> <span>Restriction on petroleum sales<\/span> <\/h2>\n<p>\n\t Belarus stands to benefit from the use of the ruble, a volatile currency, for settlements, said Kaciaryna Barnukova, of the Belarusian Economic Research and Outreach Center. But its access to petroleum markets has been restricted by international sanctions, she added.\n<\/p>\n<p>\n\t As Nazara\u016d noted on April 19, Belarus\u2019 two refineries have cut production \u201cto satisfy the needs of the domestic market.\u201d\n<\/p>\n<p>\n\t The Navapolack refinery processes about 11,700 tons of oil a day; the Mazyr refinery, about 13,700 tons, said Raman Halo\u016d\u010danka, Belarus\u2019 prime minister, on April 7. He added that the Mazyr facility refined up to 25,000 tons a day in 2020.\n<\/p>\n<p>\n\t The government stopped releasing statistical data on petroleum production and sales last year.\n<\/p>\n<p>\n\t Petroleum output will depend on whether Minsk will manage to bypass Western sanctions, said Tacciana Manionak, a Belarusian fuel sector expert.\n<\/p>\n<h2> <span>Competition with Russia<\/span> <\/h2>\n<p>\n\t The Belarusian government had upgraded the two refineries with a view of boosting their total capacity to 24 million tons of crude per year.\n<\/p>\n<p>\n\t Meanwhile, the domestic demand is estimated at no more than eight million tons of oil. Moreover, Belarus produces about 1.7 million tons of oil in the country. It sold about 1.2 million tons to Germany last year, but the latter has stopped buying crude from Belarus in response to the country\u2019s complicity in Russia\u2019s invasion of Ukraine.\n<\/p>\n<p>\n\t The war must have affected Belarus\u2019 petroleum sales in Ukraine, which totaled $2.35 billion last year, according to that country\u2019s customs service.\n<\/p>\n<p>\n\t Belarus will not be able to sell much fuel in Russia whose refineries aggressively compete for markets amid Western sanctions, Manionak said. Moreover, Russian refineries receive subsidies from the government. It is unclear whether Belarusian refineries will be eligible for the same Russian subsidies under the new oil deal, she added.\n<\/p>\n<h2> <span>Government may be forced to raise domestic fuel prices<\/span> <\/h2>\n<p>\n\t Belarusian refineries used export revenues to offset losses from fuel sales in the domestic market. The government will be forced to raise domestic fuel prices, Manionak said.\n<\/p>\n<p>\n\t Officials may consider further upgrades to refineries to increase the production of chemicals, including plastics, Barnukova said, noting that new upgrades would require heavy investment.\n<\/p>\n<p>\n\t Further concessions may be conditional on tax, customs harmonization\n<\/p>\n<p>\n\t Moscow has offered Minsk a favorable oil and gas deal in return for its support for the Russian assault on Ukraine, Manionak said. However, the price of natural gas has been fixed only until the end of the year.\n<\/p>\n<p>\n\t Nazara\u016d said that Minsk would like to discuss with Moscow pricing mechanisms for 2023 and beyond. Observers note that the Kremlin may make further price discounts conditional on the harmonization of the two countries\u2019 tax and customs systems.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Aliaksandr Klasko\u016dski, BPN * Reprinting is not allowed Minsk and Moscow have reached a favorable oil deal and fixed the price of natural gas until the end of the year, said Juryj Nazara\u016d, Belarus\u2019 deputy prime minister. He said that Belarus and Russia have stopped using the U.S. dollar exchange rate in gas and [&hellip;]<\/p>\n","protected":false},"author":75,"featured_media":0,"template":"","rubric":[22],"class_list":["post-11399","longreads","type-longreads","status-publish","hentry","rubric-theviewer"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Belarus may have secured favorable oil, gas deals, but market access restrictions limit its ability to cash in | Pozirk<\/title>\n<meta name=\"description\" content=\"By Aliaksandr Klasko\u016dski, BPN * Reprinting is not allowed Minsk and Moscow have reached a favorable oil deal and fixed the price of natural gas until the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pozirk.online\/en\/longreads\/11399\/\" \/>\n<meta property=\"og:locale\" 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