At the international forum Russian Energy Week-2018 in Moscow, Minister of Energy of the Republic of Kazakhstan Kanat Bozumbayev and Minister of Energy of the Russian Federation Alexander Novak signed an intergovernmental protocol amending the agreement between the Government of the Republic of Kazakhstan and the Government of the Russian Federation on trade and economic cooperation in the field of oil and petroleum products supply to the Republic of Kazakhstan dated December 9, 2010.

The changes will allow regulating the import of petroleum products from Russia to Kazakhstan and the export of petroleum products from Kazakhstan outside the customs territory of the Eurasian Economic Union at the interdepartmental level (at the level of the energy departments of the two countries).

Thus, Kazakhstan will be able to more quickly make decisions on opening / closing exports or imports of certain types of petroleum products, depending on the balance of the domestic fuel market.

Currently, Kazakhstan has a ban on the export of light petroleum products. The signed protocol creates opportunities for initiating exports of light petroleum products manufactured by Kazakhstan’s upgraded refineries.

KAZINFORM

Published: 03 October 2018

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