RD KMG to ship 2.4 mln tons of oil to the domestic market in 2016

​The volume of oil supply by RD KMG to the domestic market in 2016 will make up 2.4 mln tons.

The sale price in the domestic market in 2016 is set at 17,100 tenge at the Atyrau oil refinery plant and 28.802 tenge/ton at the Pavlodar oil chemicals plant.

These prices for 2016 haven’t been approved by the independent directors of the company.

Last year an agreement on the supplies at the price of 37 thousand tenge/ton at the Atyrau oil refinery plant and Pavlodar oil chemicals plant was reached. This price is maximally close to the prime cost plus 3%, in conformity with the conditions of the agreement of cooperation between RD KMG and National Company KMG (KazTAG) that was signed at the IPO of RD KMG.

RD KMG (affiliate of National Company KMG) is in the top-3 by the volumes of oil extraction in Kazakhstan. The company’s extraction volume, taking into account the stakes in JV Kazgermunai, CCEL (Karazhanbasmunai) and PetroKazakhstan Inc in 2014 made up 12.3 mln tons (-1%). The volume o consolidated proven and probable reserves of RD KMG taking into account the stakes in the JVs as of the end of 2014 made up 132 mln tons.