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BOC, Lithuanian Klaipedos nafta sign agreement on fuel oil transshipment
MINSK, 25 June (BelTA) - ZAO Belarusian Oil Company (BOC) and the Lithuanian terminal Klaipedos nafta have signed an agreement on the transshipment of fuel oil, BelTA learned from Klaipedos nafta.
The agreement will run for 18 months. Then its can be prolonged for another year. This is the first long-term contract of Klaipedos nafta with the Belarusian company.
The agreement between Belarusian Oil Company and Klaipedos nafta is based on take-or-pay terms. It means that BOC will ship a certain amount of goods every month. If the company does not fulfill this requirement, it will have to pay for the reserved terminal capacity.
ZAO Belarusian Oil Company was founded in 2007. It is the leading exporter of oil products from Belarus. The company is focused on consolidating export volumes of oil products made by OAO Naftan and OAO Mozyr Oil Refinery. The commodity distribution network of Belarusian Oil Company comprises two affiliated companies in the United Kingdom, Ukraine, Russia, Poland and Latvia.
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