ArmInfo. In H1 2016 versus H1 2015, the import of oil derivatives grew in quantitative terms by 9.3% (versus 7.5% decline in H1 2015) to 149.4 thsd tons. In value terms, however, the indicator dropped by 8% to $90.8 mln (versus 34.8% decline in H1 2015).
Following a continued fall in oil derivatives on the global market, now oil prices are growing amid the little optimism inspired by the Moscow-Riyadh agreement on possible joint steps towards market stabilization, according to the Customs Service of Armenia.
Over the period under review, export of oil derivatives fell twofold in both quantitative and value terms. To note, in H1 2015 the export experienced 2-fold decline in quantitative terms and 47% decline in value terms.
In H1 2016, the import of oil derivatives from Russia, Bulgaria, Belgium, Greece, Iran, and Romania ranged between 6,000 to 10,000 tons; the import from Lithuania, the Netherlands and Germany ranged from 202 to 273 thsd; the import from Turkey, Korea, the UK - from 95 to 100 tons; the import from Belarus, France and Poland ranged from 40 to 60 tons; the import from Sweden, Japan, the United States and Singapore ranged from 15 to 38 tons. As regards exports, the supply to Iran stopped, and the tiny amount fell on Russia.
Armenia has no raw materials base of its own, but it has an intergovernmental agreement with the Russian Federation regarding duty-free supplies of oil derivatives. In 2016, according to the new indicative balance, Russia will supply 136 thsd tons of duty-free petroleum to Armenia, including 120 thsd tons of Russian-made petroleum. In addition, Armenia will receive 150 thsd tons of Russian-made diesel fuel (including 120 thsd tons of Russian-made diesel fuel), 47 thsd tons of fuel for jet engines, (including 8 thsd tons of Russian-made fuel), as well as 200 thsd tons of Russian-made paraffin oil.
The indicative balance is approved for each year in compliance with the Armenian-Russian intergovernmental agreement dated 2 Dec 2013, which implies no re-export.