Belarus considers setting up two oil ventures with Russia

Nov 18, 2003 01:00 AM

Belarus President Alexander Lukashenko will consider a government proposal for setting up two joint ventures with Russian oil company Russneft, the Belarussian government told.
One of the ventures, RussBelNeft, will produce oil in Russia and send part of it to Belarus to be refined. The other, BelRussNefteprodukt, will be registered in Belarus and sell oil products.

Each party would contribute $ 50,000 to the authorized capital of each venture.
In addition, BelRussNefteprodukt would manage 25 % plus one share in the Mozyr Petroleum Refinery while RussBelNeft would manage a stake of the same size in Russneft.

Source: Interfax
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