BAKU, Azerbaijan, Feb. 25
By Nargiz Sadikhova - Trend:
Refining volume at the subsidiaries of Kazakhstan’s KazMunayGas National Company decreased by 12.2 percent and amounted to 18.07 million tons, Trend reports citing the company.
The company said that due to the introduction of quarantine measures in all cities of Kazakhstan in 2020 the demand for the main types of oil products in Kazakhstan decreased, which had a corresponding impact on the production activities of Kazakh oil refineries.
“The volumes of oil refining and production of oil products were reduced to avoid overstocking, while the production process was not stopped, the utilization of refineries was balanced in line with the required volume of oil products production. Currently, the refineries continue their production activities,” the company said.
Thus, refining volumes at Kazakh refineries declined by 7 percent to 12.8 million tons, which is mainly attributable to lower oil refining volumes at three major refineries in line with the level of consumption of petroleum products.
Refining at KMG International refineries (Petromidia, Vega) in Romania amounted to 5.2 million tons, down by 22.7 percent year-on-year.
“Decline is a result of a production shutdown at Petromidia refinery related to scheduled overhaul from March 15 to May 1, 2020 as well as a decrease in demand for petroleum products in the region,” the company said.
In 2020, the production of oil products at Kazakh and Romanian refineries decreased by 12.5 percent to 16.8 million tons.
Production of oil products at Kazakh refineries amounted to 11.7 million tons, down by 7.1 percent year-on-year due to lower oil refining volumes, amidst the COVID-19 implications on oil products consumption.
Oil products production at KMG International refineries (Petromidia, Vega) amounted to 5.1 million tons, down by 22.7 percent year-on-year due to production shutdown at Petromidia refinery due to scheduled overhaul.
KazMunayGas (KMG) National Company is the Kazakhstan operator for exploration, production, refining, and transportation of hydrocarbons, representing the state interests in the oil and gas industry of Kazakhstan.
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