7 Oct 2009 13:03

KazMunaiGaz may swap part of its share in Pavlodar refinery for Russian feedstock

ALMATY Oct 7 (Interfax) - Kazakh national company KazMunaiGaz may hand over part of its shares in the Pavlodar refinery to the Russian companies.

"We are currently holding negotiations with Russian companies, including the option of handing over a part of the share in the refinery in exchange for non-interrupted crude oil supply in order to ensure economic efficiency and the capacity load of the refinery," president of KazMunayGas, Kairgeldy Kabyldin, at a press briefing in Astana on Wednesday.

As reported, on August 4 JSC Trading House KazMunaiGaz (a 100% subsidiary of JSC National Company KazMunaiGaz) signed an agreement for purchase of a 100% stake in the registered capital of Refinery Company RT LLP that owns the property complex and a 58% stake in JSC Pavlodar Refinery. The other 42% of the shares in JSC Pavlodar Refinery are owned by the State Committee for Property and Privatization of the Kazakh Ministry of Finance.