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Oil and gas minister: Kazakhstan needs to adopt new law regulating prices of petroleum products

Oil&Gas Materials 2 February 2011 19:17 (UTC +04:00)

Kazakhstan, Astana, Feb. 2 /Trend, A.Maratov/

Kazakhstan needs to adopt a new law regulating the prices of petroleum products, said the oil and gas minister Sauat Mynbayev.

"Kazakhstan needs to adopt a new law regulating the prices of petroleum products, because from 1 July this year, customs checkpoints on the border with Russia will be eliminated, which means that there will be equal or nearly equal prices of petroleum products in Russia and Kazakhstan," said Mynbayev.  

Oil prices in Russia, which faster react to world markets, have always been higher than in Kazakhstan. And therefore, the cost of products of the Pavlodar Petrochemical Plant, which technologically belonging to the Soviet Union has been focused on refining Russian oil, was always higher than the two other Kazakh refineries - Shimkentsk and Atyrau.

"The opening of borders between our countries should not mean a return to formerly existing system of partial control on the supply and price of domestic oil products market," noted the minister.

According to him, the government needs a mechanism that would solve the problem of abrupt changes in prices and occasional supply in different regions of the country.

"It is resolved by the mechanism, reflected in a bill that we have submitted to the parliament. And we need the support of MPs in the adoption of such a bill," said Mynbayev.

During the period of sowing and harvesting annually, Kazakhstan is experiencing a sharp rise in prices for petroleum products. One reason for this jump is called the deal of filling station owners.

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