Armenia has oil to spare as Belarus builds new gas stations
Azerbaijan is keen to offload surplus oil and fuel stocks worth $58.4mn. Meanwhile Tatneft is making the most of increased fuel demand in Belarus.
In June, the storage warehouses in Azerbaijan, Armenia, are holding some $58.4m worth of diesel and gasoline, black oil, lubricants and aviation fuel, amongst other oil-based products. The total stock makes up 24.2% of the overall unsold volume of production in Azerbaijan.
Although lower than the previous month, the country is keen to offload its excess products. Some of it may be destined for Belarus, where demand for gasoline is clearly on the increase.
Tatneft has announced plans to build 30 new petrol stations and work is now underway to develop the sites, first agreed at the end of 2009. The new sites will boost Tatneft's retail presence in the Republic, which already numbers 635 units with sales of some 800 thousand tons of oil and gas products.
