KazTransOil has closed its representative office in Kiev

KazTransOil has closed its representative office in Kiev, CenterAsia IA reports referring to KazSE PR service. The decision about the closure was agreed by the Board of directors on June 27th 2014. They don’t give any reasons.

The Ukraine is one of the major export partners of Kazakhstan. The news causes anxiety that the closure of the representative office can negatively influence hydrocarbon exports from Kazakhstan. KazTransOil is an oil transporting company providing transporting of oil produced in Kazakhstan to the national and the international markets.

The analyst of Finam investment holding, A. Vakulenko says that due to the geographic peculiarities of Kazakhstan and the major sales markets for hydrocarbons produced in the state, the main export partners are, besides from Russia, the oil transporting companies of Azerbaijan, Belarus and the Ukraine. He claims that the representative office in Kiev could be opened for operative solving of the points connected with oil products transporting or transit from Kazakhstan via the Ukrainian oil pipelines to the European consumers. In his opinion, closure of the representative office is connected with worsening of the political situation in the Ukraine and possible provocative acts against the personnel of KazTransOil representative office, the company being a State ally to Russia.