Cistran Finance Exploring the Spirit of Capitalism's New Frontier

Wednesday, July 18, 2018

Belneftekhim head Igor Lyashenko: State industry benefits from exports to Russia

Igor Lyashenko, the chairman of the Belarusian state petrochemical enterprise Belneftekhim, said recently that the Belarusian petroleum industry benefits from its economic ties with Russia.

"Work with Russia is intense: Russia accounts for 60 percent of Belneftekhim's export," Lyashenko said, BelTA reports. "We cooperate in purchasing raw materials and in selling our products. The dynamics [are] positive. We count on successful cooperation in the future."

Belneftekhim registered positive changes regarding all assigned targets in H1 2014, according to Lyashenko. The concern's enterprises operated at a profit during the first half of the year, with profitability of sales in the production sector reaching 13.6 percent.

Merchandise export totaled 99 percent against H1 2013 despite unfavorable trends on the petrochemicals market, according to Belneftekhim Press Secretary Marina Kostyuchenko, according to BelTA.

"Accomplishing this year's tasks is what we aim for. With this goal in mind we will tightly cooperate with labor collectives, helping as much as we can as is the tradition, and naturally we count on support of allied ministries," Lyashenko said, BelTA reports. "It is generally acknowledged that in difficult times it is possible to secure good performance only together."