BNK reduces fuel supplies to the Ukraine

The Belarus Oil Company (BNK) has reduced fuel supplies to the Ukraine explaining it by force-majeure circumstances. It has sent to the Ukrainian contractors a letter warning about its inability to accomplish the fuel supply contracts for August. Supplies will be 20-30% of those contracted, one of the sources claims. Another says that the letter does not tell definitely whether supplies will be 20-30% of the contracted, or the decline will be 20-30%.

They reported before about the postponing for indefinite reasons the repairs of Naftan oil refinery initially planned for September. They await in the middle of August the repair of Mozyr oil refinery, the major oil products supplier to the Ukraine.

It is not the first time when BNK does not carry out its obligations. In summer 2013, BNK Ukraine had to warn its partners about its inability to accomplish long-term negotiations. The formal reason was the accident at Mozyr oil refinery with further 2-month repairs. BNK promised to pay attention to the creation of the reserves for the period of the planned repairs for provision of the clients. In particular, in spring 2014 BNK claimed that Mozyr oil refinery planned to build a supplementary reservoir park for high-octane petrol.

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