KazMunaiGas changes prices at its fuel stations in Kazakhstan

Oil&Gas Materials 28 October 2017 14:18 (UTC +04:00)

Baku, Azerbaijan, Oct. 28

By Ali Mustafayev - Trend:

The Kazakh KazMunaiGas company takes measures on stabilizing the prices of gasoline in the domestic market.

The company has decided to put a unified retail price of 161 tenge per liter of AI-92 gasoline at all of its fuel stations, in order to avoid the destabilization of prices and to reduce the losses, the press service of KazMunaiGas said in a message.

At present, AI-92 gas reserves in the north, east and center of Kazakhstan are formed mainly due to supplies from Russia, which costs much more than 161 tenge per liter.

The executive body of the company also decided to reduce the bonus payments to the employees of JSC "KazMunaiGas Recycling and marketing" and JSC "KazMunaiGas-processing and marketing."

The "KazMunayGas Onimderi" LLP has decided to reduce the number of staff of the head office, in order to lower the costs.

Presently, Kazakhstan is experiencing certain problems with fuel, since three of the country's refineries are being modernized. To compensate for lack of fuel for domestic consumption, Kazakhstan is currently importing fuel from Russia, which is more expensive, compared to the local one.

Starting from November the Kazakh government intends to actively cooperate with local oil producers, as well as local oil refineries.