Belarus buys 38 million barrels of oil from Russia MINSK, Belarus, Nov. 6 (UPI) -- The government of Belarus said it secured a deal with Russia for 38 million barrels of oil to be delivered in the fourth quarter of the year. Belarusian First Deputy Prime Minister Vladimir Semashko said the country saw industrial production levels decline in October because of low oil refining volumes from Russia. "The problem concerning the delivery of the required volumes of oil in the fourth quarter of 2012 has been resolved with the Russian government," he was quoted by Russia's state-run news agency RIA Novosti as saying. Belarusian refineries were struggling because of low supplies, he added. The country refined around 160 million barrels of crude oil at its facilities last year. Minsk last month said it could produce around 350 billion cubic feet of natural gas in Russia if allowed access to its deposits. The government added that it would give Russian companies access to its industrial sector in exchange for access to more oil. The Kremlin said it aims to invest about $10 billion on refinery development during the next five years.