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
- Almaty Metro To Replace Korean-Controlled System After Technical Failures
- Fewer Kazakhstanis Work Outside Their Home Regions
- Safety Violations Cited As Possible Cause Of Kazzinc Plant Explosion
- Tenge Weakens Five Percent In May As National Bank Reports No Interventions
- New Direct Flights From Kazakhstan To Warsaw, Izmir, And Larnaca
- Kazakhstan Clarifies Position On Possible Iranian Uranium Storage
- EU Politicians Eye Kazakhstan And Uzbekistan As Possible Sites For Migrant Return Centers
- Kazakhstanis Are Leaving The Regions For Megacities
- Kazakhstan Could Store Iranian Uranium If US-Iran Nuclear Deal Is Reached
- Kazakhstan’s EV Boom Is Here. Is The Grid Ready?
- Cyprus President To Make First Official Visit To Kazakhstan
- Kazakh Investors May Gain Remote Access To Armenian Stock Market
- Call Center In Ukraine Scammed Kazakhstanis By Posing As Banks And Police
- Kazakhstan Marks Day Of Remembrance For Victims Of Political Repression And Famine
- Kazakhstan Considers Molecular Markers To Track Fuel Supply Chains
- Tengiz Oil Production Gradually Restored After Operational Failure
- Tokayev Meets Cuban Vice President To Discuss AI And Medicine
- Karaganda Zoo Shows Newborn Amur Tiger Cubs For The First Time
- Putin and Tokayev Consolidate New Format of Relations, Political Analyst Says
- Kazakhstan Releases Prices For All Non-Prescription Medicines
