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KazMunayGas President on petrol market

05 september 2011, 15:04
0
©RIA Novosti
©RIA Novosti
Kazakhstan intends to meet the domestic demand for petroleum products by 2016. Efforts to overhaul the nation’s oil refineries are targeted at getting this target reached, Kairgeldy Kabyldin, President of KazMunayGas, said in an interview for Kazakhstanskaya Pravda.

“The Company’s goal is to raise its share in the retail market up to 30% by 2016 (…) Last year Kazakhstan imported a total of 800 000 tons of high-octane petrol and aviation fuel. By 2016 we plan to meet the domestic demand and start exports”, KMG Head believes.

According to him, the Company’s share of the domestic market of petrol and diesel stands at nearly 50%. The share of aviation fuel makes up 40%. The overall Company’s share of petroleum products market stands at 40%.
It was reported earlier that since the start of the year petrol price had grown by 17.4%, with prices set by oil refineries growing by 23%. Retail prices for diesel fuel have grown by 20% since the start of the year.

Besides, Tengrinews.kz reported that In January – July 2011 petrol production in Kazakhstan had dropped 16% as compared to the like period of 2010.

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