Lukashenko wants Bashneft

Belarusian dictator wanted to improve the energy balance.
Origin source
After the purchase of "Rosneft" of state-owned "Bashneft" appear declaration of interest in the asset from the most unlikely candidates. As it turned out, the oil company was interested and Belarusian President Alexander Lukashenko, who offered to exchange it for a number of attractive assets for the Russian. However, the Belarusian leader's proposal is economically inefficient and could lead to negative consequences for the "Bashneft".


President of Belarus Alexander Lukashenko said that Russia offered a number of industrial enterprises in exchange for "Bashneft" controlling interest. Among the businesses that the Belarusian side was ready to offer Russia include: Minsk Wheel Tractor Plant (MZKT), the enterprise space industry "Peleng" and plant "Integral", which produces products of the electronics industry.

During a press conference the president of the neighboring country said on November 17: "When was the privatization of" Bashneft ", I sent a proposal to your government, your guide Let's ... we these (Belarus - ed.) Enterprises - with the proviso that they will work better. than today - will exchange shares "Bashneft" you "Rosneft" transferred or sold. "

The Belarusian leader lamented that so far not received a response, and once again said that the Russian government does not allow Belarusian companies to the oil and gas production in Russia. According to Lukashenko, Belarus is enough 7 million tonnes of its own production in the year to become the most prosperous country in the world.


The desire of Minsk to obtain oil producing assets is clear: own production, even abroad, would allow Belarus to load its refinery, the largest taxpayer of the country. Now Refining and Petrochemicals account for about 30% of industrial output and exports half of Minsk. More than 70% of the oil refining and petrochemical production is sold in foreign markets, allowing the influx of much-needed foreign exchange earnings.

Belarus itself produces oil, although production volumes are not large - only 1.65 million tons / year, so in need of raw material supplies from Russia, where oil pipelines go to Belarus, as in the Soviet Union, the oil industry was created as a single complex. All the oil produced in Belarus sends abroad - in Germany. Economically it is advantageous, as the Belarusian oil refineries get cheap Russian oil under the Customs Union.

So far, all attempts to Minsk to meet its refineries from alternative sources have been unsuccessful. Oil from other countries made products uncompetitive Belarusian refineries.

Getting cheap Russian oil and selling abroad, petroleum products and petrochemical products with high added value, the Belarusian economy received a major financial support and the possibility of development.

In 2015, for the supply of oil from Russia were paid $ 6.2 billion, while revenues from oil export amounted to 7.5 billion.; taking into account its own oil - 8.01 billion dollars. Exports exceeded imports by $ 1.25 billion, with the Belarusian oil - 1.83 billion dollars. Thus, with each ton of oil sent for export, net profit amounted to an average of $ 145. At the same time profit from the sale of approximately 6 million tons of oil products on the domestic market shall be disregarded.

unequal exchange

For Russia, the Belarusian industrial assets really are of interest, especially MZKT which produces wheelbase for Russian mobile missile complexes "Topol". However, the market for Belarusian goods is exclusively in Russian. Sell ​​wheel base on the international market, it is impossible: the country holding the mobile missile systems, have their own production in accordance with its standards and are unwilling to buy them in Belarus.

In addition, to evaluate the Belarusian assets - not an easy task. On the one hand, they are public non-public enterprises; on the other - their business is almost entirely oriented to the Russian market without access to which they are unlikely to be of interest to anyone.


For "Bashneft" control by Belarus would lead to degradation. The value of the company are mainly three Ufa refineries - one of the best in Russia - to develop that in Minsk there is no reason not to create unnecessary competition for their own businesses.

Modern refining - high-tech production, which requires constant investment. The position of the Belarusian economy at the moment is not the best. Since the beginning of the year GDP fell by 2.8%. Minsk hopes to be able to improve the economic situation, getting a loan from the IMF in the amount of $ 3 billion.

In addition, the own production of "Bashneft" does not cover the needs of Ufa refineries and companies have to buy oil produced in Western Siberia. If Belarus will take away half of production "Bashneft" in accordance with their participating interests, the Ufa refineries remain without raw materials and will be forced to cut production, which will lead to the most dire consequences, not only economic, but also social. If the own production of "Bashneft" completely be exported to Belarus, and to buy raw materials on the side of Ufa refineries, such a scenario is also not economically justified. Thus, the purchase of "Bashneft" would be economically meaningless by the Belarusian authorities. Nothing personal just business.