Kazakhstan self-sufficient in oil products
Baku, Azerbaijan, Oct. 1
By Rashid Shirinov – Trend:
The second stage of modernization of Shymkent oil refinery has been completed, said the President of PetroKazakhstan Oil Products LLP Jiang Shi during a press tour organized by the Chinese Consulate-General in Almaty, Kapital.kz reports.
He noted that 10 years ago Kazakhstan imported most of the oil products from Russia and last year there was a shortage of gasoline in the domestic market, but at the moment the problem is solved.
"Now Kazakhstan’s market is receiving a large amount of [local] oil products. The government of Kazakhstan stopped imports from Russia. We fully provide the market. We are now considering exporting our oil products, because our market is already secured," Jiang Shi said.
He also noted that the total cost of modernization amounted to 1.85 billion tenge.
"The second and last stage of modernization of the Shymkent oil refinery, which ended this year, was the most difficult. The modernization improved the quality of gasoline from K2 to K4 and K5," Jiang Shi stressed.
"Funds for modernization were allocated by our shareholders – 400 million tenge each side. This money is non-refundable. Now the plant is managed on a parity basis by KazMunayGas and China National Petroleum Corporation," he said.
PetroKazakhstan Oil Products received the remaining amount as a loan from the Development Bank of Kazakhstan and provided its own assets as a collateral.
The Shymkent oil refinery is one of the three leading oil refineries in Kazakhstan. Built in 1985, it is the newest refinery in Kazakhstan.
The plant produces various grades of gasoline, diesel fuel, jet fuel, liquefied gas, vacuum gas oil and fuel oil.