Baku, Azerbaijan, Mar. 7
By Rashid Shirinov – Trend:
Kazakhstan's national oil and gas company KazMunaiGas (KMG) has reduced the wholesale price of jet fuel produced in Kazakhstan, Trend reports citing a message by the company.
This aviation fuel is produced at Atyrau Refinery and Pavlodar Oil Chemistry Refinery. The wholesale price of jet fuel produced at the Atyrau refinery dropped by 5.6 percent, and that produced at the Pavlodar refinery decreased by 4.4 percent since the beginning of the year.
"The second price reduction since the beginning of this year became possible after the completion of modernization of the oil refineries. The modernization also allowed to fully provide the domestic market of Kazakhstan with the strategically important oil product and to abandon the expensive imported jet fuel," KMG noted.
KazMunaiGas is Kazakhstan's national operator for exploration, production, processing and transportation of hydrocarbons. Around 90.42 percent of KMG's shares belong to the National Welfare Fund Samruk-Kazyna, and 9.58 percent is owned by the National Bank of Kazakhstan.
KMG produces about 28 percent of the total oil and gas condensate production in Kazakhstan and 16 percent of natural and associated gas production, and also processes 82 percent of Kazakhstan's oil.
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