Senate ratifies protocol b/w Kazakhstan and Russia on oil supplies
ASTANA. KAZINFORM - At a plenary session deputies of the Senate have adopted the Law "On ratification of the 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 in the Republic of Kazakhstan dated December 9, 2010".
"As it is known, volume of oil produced by Kazakh refineries cannot fully meet domestic demand. For this reason, we import Russian oil products including more than 1 million 300 thousand tons of gasoline, more than 100 tons of jet fuel, and 400-700 tons of diesel fuel", said the Minister of Oil and Gas Uzakbay Karabalin presenting the draft law.
According to his words, the corresponding protocol amending the agreement was signed in September 19, 2012. As per the document, Kazakhstan is committed to carry out counter oil delivery of petroleum products imported from Russia. To change the situation in a more favorable direction for Kazakhstan, December 24, 2013 the parties signed the Protocol amending the Agreement.
According to the latest Protocol, Kazakhstan's commitments on oil products counter delivery completed January 1, 2014. In order to prevent re-export of Russian light oil, Kazakhstan equalizes light oil export duty rates to the level of Russian rates.