Supreme Court Sides with Antimonopoly Agency in Dispute with CNPC-AqtobeMunayGas
Photo: Cnpc-amg.kz
Kazakhstan’s Supreme Court has ruled in favor of the Agency for the Protection of Market Competition (APMC) in a two-year legal battle with JSC CNPC-AqtobeMunayGas, a major oil and gas enterprise partly owned by China’s CNPC, Orda.kz reports.
According to findings from the APMC’s Aqtobe regional office, the company was found to have abused its dominant market position. The investigation revealed that CNPC-AqtobeMunayGas imposed unfavorable contract terms on counterparties, including requiring payments within three days instead of the five-day period established by law.
Additionally, the company demanded that tank trucks be filled with liquefied petroleum gas (LPG) only up to 85% capacity, complicating the unloading process and forcing partners to seek alternate tank sizes for the remaining gas.
“The company, having the technical capability, unreasonably limited the production of LPG for deliveries by road transport, thereby infringing on the rights of other market participants,” the agency stated.
The antimonopoly agency had initially issued a notice to the company requesting that it voluntarily correct the violations and revise its contracts. After the company refused, the case proceeded to court.
Lower courts supported the APMC’s position, and the Supreme Court upheld their rulings. The case will now be referred to the Aqtobe Administrative Offences Court to determine penalties against CNPC-AqtobeMunayGas.
The enterprise, a key industrial player in the Aqtobe region, is responsible for developing the Janajol oil field. One of its principal shareholders is China National Petroleum Corporation (CNPC).
Original Author: Nikita Drobny
Latest news
- Astana LRT Operator Looks For Funding In China
- Smoke From Russian Wildfires Reaches Eastern Kazakhstan
- Kazakhstan Offers EU A Broader Partnership In Eurasia
- Oil Leak Reported In Caspian Sea Near Azerbaijan Coast
- Kazakhstan To Build 250 Roadside Service Stations For 180 Billion Tenge
- Police Chase With Kazakh Driver In Phuket Ends In Crash And Injuries
- Foreigners Moving To Kazakhstan Are Choosing Big Cities Over Most Regions
- Turkestan Region Leads Kazakhstan In Twin Births
- From Grain To AI: What Kazakhstan Brought To Afghanistan
- Helicopters Drop 39 Tons Of Water On Forest Fire In East Kazakhstan
- Kazakhstan Tightens Border Checks Despite Saying There Is No Fuel Shortage
- Kazakhstan Seeks Greek Investment In Energy And Transport
- Global Rating Agency Confirms Kazakhstan’s Investment-Grade Status
- Kazakh Company Sent $16 Million To China, Got No Goods And A Huge Fine
- Kazakh Parties Are Losing Focus With Overly Broad Programs, Expert Says
- Almaty Man Registered 990 People In One-Room Apartment And Received Sentence
- Montenegro President Makes First Official Visit To Kazakhstan
- Gas Prices In Kazakhstan To Rise From July 1
- Kazakhstan’s Oldest Gold Mining Company Resold For 8.7 Billion Tenge
- Kazakhstanis With Disabilities Can Check Building Accessibility Online
