Kazakhstan to pass on Euro-5 fuel production by 2014 – Vice Minister of Oil and Gas

December 22. KAZINFORM. ASTANA

Murat Zhakeyev

Kazakhstan to pass on Euro-5 fuel production by 2014 - Vice Minister of Oil and GasKazakhstan’s Ministry of Oil and Gas took an unexpected decision. The oil refineries of the country after their modernization should be ready to produce Euro-5 fuel bypassing Euro-3 and Euro-4 approximately by 2014. Vice Minister of Oil and Gas Asset Magauov informed of it within an online conference at BNews portal studio.

“Our experts were recommended to consider the opportunity of transition to Euro-5 fuel production within the reconstruction of the oil refineries. We are studying this issue currently”, A. Magauov said.

Earlier, the authorities planned to modernize the oil processing plants stage-by-stage: to produce Euro-3 fuel by 2014 and Euro-4 one – by 2016.

“Transition to Euro-3 and Euro-4 standards is a very expensive process. Stage-by-stage modernization will requite more time and huge financial resources. Therefore we decided to pass on Euro-5 standard at once in order not to build new factories and not to purchase additional equipment. Today’s technologies allow producing Euro-5 fuel at once”, the Vice Minister clarified.

Alongside he noted that “following the reconstruction of three oil refineries, the volumes of oil processing must reach 17 mln tons per annum which must satisfy the country’s demand in oil products. Currently we process about 13 mln tons of oil per year. All oil products must fully meet general standards after the plants’ reconstruction”.

http://www.inform.kz/eng/article/2334083

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Price spikes for fuel and lubricants not expected in Kazakhstan in coming months: A.Magauov

December 22. KAZINFORM. ASTANA

Murat Zhakeyev

Price spikes for fuel and lubricants are not expected in Kazakhstan in the coming months. Kazakh Deputy Minister of Oil and Gas of Kazakhstan Asset Magauov said at the online conference in the studio on BNews.kz portal on Wednesday.

“Since the last year we have introduced retail price regulations for fuel and lubricants. Thus, we managed to eliminate abrupt, sometimes speculative price spikes. Today, taking into account the demands of the domestic market and supply of oil companies the prices steadily increase – one time in a quarter by KZT 2-3”, the Deputy Minister said.    

http://www.inform.kz/eng/article/2334106

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