KazMunayGas to receive up to $3 bln in advance for oil shipments
Edited by Rhod Mackenzie / 2015-12-02 06:22:33
KazMunayGas on the background of the oil price fall has chosen the international trader Vittol for the pre-export financing of future oil supplies, the company reported.
According to the agreements, KazMunayGas will be made the first tranche in the framework of the advance payment of up to $3 bln from the trader in the coming 2-4 months.
KazMunayGas explained that it is about the organization of oil shipment in advance which makes up a 20% stake of KazMunayGas in Tengizchevroil.
In September the deputy chairman of KazMunayGas, D. Berlibaev, said that the period of contracts might make up to 3 years.
