Kazakhstan to extend ban on fuel exports

Kazakhstan will prolong the ban on exports of fuels and lubricants to July 1, 2011, Novosti – Kazakhstan quoted a source in the Ministry of Oil and Gas as saying. “The ban will be prolonged till July 1, 2011. The resolution will be signed today”, the source informed. Before that Kazakhstan had introduced a ban on fuels exports to May 1. Early April Lyazzat Kiinov, Vice Minister of Oil and Gas, had said that “the ban might be extended for some types (...) Consultations are to be held with Russia and Belarus within the Customs Union, then a final decision could be taken”. He elaborated that the ban might be extended not to allow any hikes of prices for fuel during the sowing campaign since Kazakhstan is a major producer of grain. According to experts, price hikes might take place in Kazakhstan against the backdrop of fuels shortages in neighboring Russia.