Azerbaijan's SOCAR Signs Long-Term Contract For Deliveries Of Oil To Belarus

SOCAR Trading, subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR) signed a long-term contract with the Belarusian Oil Company (BOC) for the supply of Azerbaijani oil, SOCAR told Sputnik on Thursday

BAKU (UrduPoint News / Sputnik - 31st December, 2020) SOCAR Trading, subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR) signed a long-term contract with the Belarusian Oil Company (BOC) for the supply of Azerbaijani oil, SOCAR told Sputnik on Thursday.

"SOCAR Trading has signed a long-term contract with the Belarusian Oil Company to supply Azerbaijani oil, as well as potentially other types of oil to Belarusian oil refineries," the company said.

At the same time, Azerbaijani agency Report said that SOCAR Trading had already supplied to Belarus about 1 million tonnes of Azeri Light crude, as well as other types of oil, in 2020.

Belarus is now diversifying sources for its two refineries amid periodic price differences with its main and traditional supplier, Russia. While continuing to buy Russian oil with deliveries via the Druzhba pipeline and by rail, Belarus is also working with alternative routes for transporting raw materials to its refineries. Oil is supplied by sea through ports in Klaipeda and Odessa. In particular, since the beginning of 2020, Minsk purchased oil from Azerbaijan, Norway, Saudi Arabia and the United States.