KazTransOil Raises Export Rate for Kenkiyak–Atyrau Oil Pipeline
Photo: Elements.envato.com, ill. purposes
JSC KazTransOil, which oversees Kazakhstan's domestic and export transportation of oil, has updated its export rates via the Kenkiyak–Atyrau main oil pipeline, Orda.kz reports.
According to a document published on the Kazakhstan Stock Exchange (KASE) website, the company has revised the export rate applied by its subsidiary, MunayTas LLC. The cost of transporting Kazakhstan's oil abroad has nearly doubled — from 5,912 to 11,300 tenge per ton per 1,000 kilometers, excluding VAT.
The new rate came into effect on May 19. KazTransOil’s press service noted that the adjustment aligns the rate with the company’s existing transportation terms.
The bulk of MunayTas's transportation volumes are oriented towards the domestic market. The new rate applies exclusively to export routes, the company added.
MunayTas is a joint venture between KazTransOil (51%) and CNPC Exploration and Development Company Ltd (49%).
KazTransOil has recently been steadily increasing rates for oil export services. At the end of last year, the company cited insufficient investment as one of the factors behind these decisions.
Original Author: Nikita Drobny
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