OREANDA-NEWS. An increase in the amount of compensatory payment to the oil refiners, which is now equivalent to 110% and 130% of the Russian special oil duty, will allow the Belarusian refiners increase the volume of oil refining under tolling contracts, reported the Official website www.government.by.

This move will also help them improve their financial state and export up to 30 thousand tonnes of own oil a month, First Vice-Premier of Belarus Vladimir Semashko said at a session of the Council of Ministers.

Earlier the compensatory payment was equivalent to 90%. However, it was still low to stimulate import of oil. Therefore a decree was adopted to increase the compensatory payments. “Thus, the country has solved a complex issue relating to oil deliveries, utilization of oil refineries, export of oil and oil products,” Vladimir Semashko said.

However, this is a temporary scheme. The solution to the problem is connected with the growth of capitalization of Belarusian refiners. The plants need to continue working on increasing the depth of oil refining. Today it makes up 68-70% and needs to be increased up to 92-93%. The companies have developed the programmes to enhance the efficiency of oil refining. Their implementation will help Belarus boost exports of oil products.