Belarus Expects Russian Oil At 88-90% Of Global Price In 2021, Up From 85% Now - Reports

Faizan Hashmi Published November 26, 2020 | 06:30 PM

Belarus Expects Russian Oil at 88-90% of Global Price in 2021, Up From 85% Now - Reports

MINSK (UrduPoint News / Sputnik - 26th November, 2020) Svetlana Gurina, deputy chair of Belarusian state-run petrochemical company Belneftekhim, expects the price of Russian oil for Belarus in 2021 at 88-90 percent of the global prices, up from current 85 percent, staate-run news agency Belta reproted on Thursday.

Due to the implementation of the tax maneuver in the oil sector in Russia, the price of Russian oil supplied to Belarus is gradually approaching global prices. The tax maneuver in the Russian oil industry provides for a gradual nullifying of export duty on oil and increase in tax on its production. Additional costs for Belarus arise due to the expected increase in the price of oil in Russia and decrease in export duties on oil products. Minsk estimated its losses over six years at up to $11 billion overall, and in 2019-2020 at $400 million annually.

Facebook Twitter Reddit Pinterest Whatsapp

Prize Bonds

PSX 100 Index

Currency Rates

Gold Prices

Petrol Prices

Crypto

Recent Stories

Shaheen likely to miss initial two matches of Pak ..

Shaheen likely to miss initial two matches of Pak Vs NZ T20I series

LHC suspends PML-N Rana Arshad’s victory notific ..

LHC suspends PML-N Rana Arshad’s victory notification from PP-133

Faizabad Dharna Commission exonerates former Spy C ..

Faizabad Dharna Commission exonerates former Spy Chief Faiz Hameed

Pakistan calls for enhanced information integrity ..

Pakistan calls for enhanced information integrity on digital platforms

Pakistan starts discussion with IMF about new loan ..

Pakistan starts discussion with IMF about new loan agreement: Finance Minister

Currency Rate In Pakistan - Dollar, Euro, Pound, R ..

Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 16 April 2024

Today Gold Rate in Pakistan 16 April 2024

Today Gold Rate in Pakistan 16 April 2024

Govt hikes petrol price by Rs4.53 per litre for ne ..

Govt hikes petrol price by Rs4.53 per litre for next fortnight

British Investment Group, One Homes, Expected to l ..

British Investment Group, One Homes, Expected to launch second development at Ce ..

Pakistan Army continues rescue operations in rain- ..

Pakistan Army continues rescue operations in rain-affected areas

"China Ready to Strengthen Counter-Terrorism Coope ..

"China Ready to Strengthen Counter-Terrorism Cooperation with Pakistan: Envoy"

Why multi-millionaires should live in the cheap co ..

Why multi-millionaires should live in the cheap countries?