Azerbaijan exports oil for $131M to Belarus since early 2021

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Belarus imported oil worth $1.575 billion in the first four months of 2021, Report informs referring to angi news agency.

During the reporting period, oil imports from Azerbaijan amounted to $131 million, from Russia – $1.444 billion.

SOCAR Trading (a subsidiary of the State Oil Company of Azerbaijan) signed a contract with the Belarusian side for the supply of approximately 1 million tons of oil in 2021. From January through March 2021, SOCAR Trading supplied four shipments of Azerbaijani oil with a total volume of 360,100 tons to Belarus.

On April 14, the Belarusian State Concern for Oil and Chemistry (Belneftekhim Concern) and SOCAR signed a memorandum of understanding. It stipulates cooperation in the sale of oil products in Belarus, including jointly with Belarusian exporters, cooperation in the implementation of joint investment projects, as well as cooperation in the sale of oil products by SOCAR in the domestic market of Belarus.