Belorusneft Crude Oil Production in January-July 2011 Falls

The state oil producing monopoly of Belarus the production association Belarusneft extracted 979 thousand tons of crude oil for the period from January to July 2011 which is by 0.8% less than for the same period of 2010, according to the statement of the Energy Ministry of Belarus.

Belorussian oil was exported predominantly to Germany and Poland. In 2011 in accordance with the signed agreements within the framework of the Common Free Market Zone Belarus got the right to export its oil. In 2010 the overall balance of fuel and energy resources of the Common state did not presuppose Belorussian oil export.

In 2011 the oil production in Belarus in planned at the level of 1.68 million tons. In 2010 the production association Belorusneft produced 1.7 million tons of oil, which is 1.1% less than in 2009. The decline in output is stipulated in the first place by the degradation of the resource base.

The production association was created in 1964. It carries out exploration, produces oil and oil gas, works with gas conversion processes and also offers a wide range of services in the field of prospecting seismology.

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