Belarus Supports Russian Oil and Gas Industry Through Acquisition

Belarus and Russia are strengthening ties also in the oil and gas industry, with Belorusneft buying Russian assets for the first time in its history.

Belorusneft-Siberia, LLC purchased oil company Yangpur for 3.575 bln Russian rubles. 

‘The Federal Anti-Monopoly Service of the Russian Federation sustained a motion of Belorusneft-Siberia for acquisition of 100% shares of OJSC Oil Company Yangpur and assets of Yangpur Ltd,’ reads the note released on Tuesday.

Overall total of recoverable company resources is over 40 mln tons, annual output of oil and gas condensate is approx. 140 thou. tons.

‘Acquisition of OJSC Oil Company Yangpur is a part of the business extension plan of PA Belorusneft in the Russian Federation,’ explained the company.