BNK (UK) Ltd., a subsidiary of the Belarusian Oil Company (BelOil) in London, exported over €20 million worth of oil products in 2009. The volume of supplies totaled 74,000 tonnes, it was learnt from BNK (UK) Limited director Andrei Dashutin.

In his words, in early August BNK (UK) Limited completed the delivery of a regular batch of the Belarusian oil products to one of the world’s largest giants TOTAL. This well-known French oil company had earlier purchased the Belarusian oil products via mediators.

“The Belarusian Oil Company and its subsidiary BNK (UK) Ltd. have earned a reputation of reliable business partners in the largest financial and trading centres of Europe, i.e. London, Geneva and Vienna. Opening a subsidiary in the British capital helped the Belarusian Oil Company, with the support of the Belarusian diplomatic missions in London and Geneva, to expand considerably a circle of business partner relations with the European banks as well as with the world’s largest oil companies,” Andrei Dashutin stressed.

BNK (UK) Ltd. was officially inaugurated in London in November 2008. The company was set up to advance Belarusian oil products to the European markets and attract foreign investment in expanding export deliveries.

“The creation of BNK (UK) Ltd. is another step of the Belarusian Oil Company to increase efficiency and economic returns from the export of the Belarusian oil products. Belarus, as many other European countries, does not possess considerable oil resources. There are two large up-to-date oil refineries in the country. They are able to process up to 20 million tonnes of crude oil what exceeds the country’s domestic needs in oil products,” Andrei Dashutin said.

The Belarusian Oil Company was registered in the Republic of Belarus in May 2007. The shareholders are Belorusneft, Naftan and Mozyr Oil Refinery, and Belarusian Oil Trading House. Belarusian Oil Company was founded following the President’s instruction to optimise oil purchases and exports of petroleum products. The Belarusian Oil Company is intended to purchase oil, to have it processed at Belarusian oil refineries and export petroleum products.

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