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Kazakh ministry signs memo on energy price control with oil companies and major traders

Oil&Gas Materials 18 February 2009 18:23 (UTC +04:00)

Kazakhstan, Astana, Feb.18 / Trend corr K. Konirova / Kazakh Ministry of Energy and Mineral Resources singed a memorandum with oil companies, Kazakh oil refining plants and major traders on guaranteed supply of petroleum, oils and lubricants (POL) to an upcoming sowing company, a source in national company Kazmunaygaz told Trend .     

"The memo was signed in the aftermath of a meeting held by the ministry. The meeting focused on regulation of POL prices," the source said.

In accordance with the memo, all three oil refining plants should submit 336,200 ton of diesel on fixed price in order to hold the sowing.

Atirau plant (in the west) should submit up to 106,200 tons to agricultural producers and SHNOS (in the south) to 114,000 tons with 57,000 tenge per ton with VAT. Pavlodar petrochemical plant (in the south) works totally on Russian raw material and should submit 116,000 tons of diesels with 65,000 tenge per ton with VAT.    

Subsidiary Gelios of the petrochemical company applied to antimonopoly company with the request to up costs on oil products by 15 percent. The company denied this request due to the lack of complete documents on such decision.

According to specialists, costs on oil products will up by 15 percent due to upcoming sowing prizes.

The official currency rate of $1 is 149.42 tenge on Feb.18.

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