KazMunayGas Company Structure: One Company Taking Back Seat to Another

Petrosun LLP, recently known for its multi-million fines for restricting competition, gives way to another company from the KazMunayGas structures in the fuel market.

As oil industry analyst Oleg Chervinsky noted in Telegram, Petrosun is giving way to KC Energy Group, which is 49% owned by KMG and 51% by CNPC International LLP in Kazakhstan (representative office of the Chinese CNPC). Both organizations from the KMG structures have the same owners and managers.

In February, KC Energy Group began delivering oil to the Shymkent Oil Refinery and received 6.3 thousand tons of gasoline, 4.3 thousand tons of diesel fuel, and 800 tons of jet fuel for sale.  Regarding gasoline and diesel fuel supplies, Petrosun's and KC's figures have almost matched.

The October plan for oil supplies to refineries, approved by the Ministry of Energy of Kazakhstan, provides for supplies for processing only by KC Energy, Petrosun LLP is not included in the plan, Oleg Chervinsky points out.

The analyst emphasizes that the companies are also located at the same address. This is, therefore, a rebranding of Petrosun to some extent. Petrosun faced several complaints while under Timur Kulibayev's control. It is now leaving the market.

Petrosun has recently made the news, namely because of the substantial fines that the ARRFR imposed for restricting competition in the fuel market.

Original Author: Nikita Drobny