Kazakhstan Hopes to Find Russia Investor For Pavlodar Refinery


Kazakhstan Hopes to Find Russia Investor For Pavlodar RefineryKazakhstan hopes to find a Russian investor to buy a 50 percent stake in the Pavlodar refinery, Kazmunaigas Managing Director Daniyar Tiesov said.

The refinery has a name-plate capacity of 7.5 million tons per year – over half of Kazakhstan’s  total refining capacity of 13 million tons per year. The Pavlodar facility needs to guarantee supplies of crude from Russia to maintain its processing loads.

“We intend to make the sale on market conditions, I think up to half the capital”, Teisov said, while not citing a firm price or the size of the stake. “Of course, we would like to have a large oil company from Russia, in order to solve the issue of stable supplies of Russian oil to the facility for a long time”, he added.

in June, Kazmunaigas CEO Kairgeldy Kabyldin told Reuters that a deal with would be concluded by the end of 2010. Companies interested in Pavlodar include TNK-BP, LUKOIL and Gazprom neft, Kommersant reports.