Kazakhstan inks additional contracts with Russia for imports of fuel and lubricants
Astana, Kazakhstan, Sep. 1
By Daniar Mukhtarov - Trend:
KazMunaiGas Onimderi (KMGO) is taking all necessary measures for a smooth selling of oil products at the filling stations of KazMunaiGas, and to saturate the retail market of fuel and lubricants.
KMGO is a 100-percent subsidiary of the KazMunaiGas - Processing and Marketing Joint-Stock Company.
"Despite a negative economic impact and potential loss, in August 2014, the KMGO concluded additional contracts with Russian companies (Bashneft, Lukoil, etc.) to import 34,000 tons of oil products, including 10,000 tons of AI-92 gasoline, 5,000 tons of AI-95 gasoline, and 19,000 tons of diesel fuel," KMGO said in a message Aug. 29.
Oil products will be imported to Kazakhstan between late August and early September 2014, according to the message.
Thus, some 6,200 tons (62 percent) of AI-92 gasoline out of the planned 10,000 tons have already been shipped, and 9,400 tons (28 percent) of diesel fuel out of the planned 34,000 tons have been shipped.
"Aside from the abovementioned amounts of oil products, in order to meet the increased demand, Kazakhstan additionally needs to import about 176,000 tons of oil products in September, including 140,000 tons of AI-92 gasoline, and about 36,000 tons of diesel fuel," KMGO said in its message.
According to the company, preliminary talks with a number of Russian companies have been completed, and the possibility of additionally importing 50,000 tons of AI-92 gasoline and 35,000 tons of diesel fuel in September is being studied.
In general, the balance of oil products in Kazakhstan has not changed, so the measures taken by the KMGO and other market participants, should lead to a stabilization of situation in the retail market of fuel and lubricants and the removal of restrictions on delivery of oil products, particularly AI-92 gasoline.
KazMunaiGas' fillings stations chain holds an average of 18 percent of the Kazakh market for gasoline, and 17 percent for the diesel fuel.
KazMunaiGas - Processing and Marketing is a 100-percent subsidiary of the KazMunaiGas National Company. It owns Atyrau Oil Refinery (99.5 percent), Shymkent Oil Refinery (49.7 percent), and Pavlodar Petrochemical Plant (100 percent).
The company's main activities include management of oil refining assets, oil and oil products exports, and development of retail network for selling oil products.
KazMunaiGas National Company is an operator for exploration, mining, refining and transportation of hydrocarbons, and represents the state's interests in Kazakhstan's oil and gas industry.
KazMunaiGas' shares are wholly owned by the Samruk-Kazyna National Welfare Fund.