Venezuelan oil costs 1.5 times more than Russian

The first batch of Venezuelan crude oil cost $656 per ton, reports АFN, quoting Belstat.  The first tanker arrived from Venezuela in May. The government claimed it was profitable to refine the oil from the South American country.

The Belarus national statistics agency says the cost of crude oil imported from Russia amounts to $398 per ton.

According to agreements between Alyaksandr Lukashenka and Hugo Chavez, Minsk plans to buy 4 million tons in 2010 and 10 million tons in 2011 from Venezuela.