OREANDA-NEWS. January 28, 2010.  The changes in the terms of Russian oil deliveries will not affect the plans to upgrade Belarusian oil refineries.

“It is a number one principle – in no circumstances to slow down the modernization pace,” Vladimir Semashko underlined. In his words, it is necessary to decide now to re-allocate profits from selling oil products between the budget and enterprises. “Refineries should work efficiently and take loans for the modernization depending on the profits they make,” the First Vice-Premier said.

As for the participation of Russian companies in the privatization of Naftan, Vladimir Semashko said that during the January oil talks, this issue was not discussed. Earlier Rosneft and Lukoil had expressed their readiness to become shareholders of the company. However, the Russian side has recently been showing less enthusiasm about the deal. “This option is still on the table,” he said.

He informed that by the end of February 2010, a number of documents are to be prepared and submitted to the heads of state and government of Belarus and Russia. They include a program to expand energy cooperation which envisages the coming of Russian investors to Naftan. “It will happen on our terms, not on theirs, because the Belarusians are the owners of this property,” Vladimir Semashko underlined.