Azerbaijan, Baku, April 8 / Trend S. Suleymanov /
A subsidiary company of KazMunaiGas - JSC Trade House KMG will be renamed soon, general director of JSC "Trade House KMG" Daniyar Berlibayev said.
"Our company will be renamed into "KMG - Refining and Marketing". Our mission is to be highly effective "downstream" by the company within the "KMG", Daniyar Berlibayev said.
He explained that re-designating is associated with the new policy of "parent company" and the position, which "KMG Trading House" recently reached.
It was was created in 2002. It was a trading company that only sells oil and oil products extracted and produced by KMG.
"We acquired assets in our company. In December last year, we completed the acquisition of the Pavlodar petrochemical plant. Thus, we have a company that owns full package of the Atyrau refinery and Pavlodar Petrochemical Plant, 50 percent of Shymkent oil refinery, Berlibayev said.
Moreover, it has over 270 filling-stations, 17 tank farms in Kazakhstan. There are assets abroad - oil company "Rompetrol group", which includes two refineries and more than 900 filling-stations in Europe.
"For all these reasons, the focus of operations was removed from the purely commercial to industrial, which relate to processing. So, the decision was made in a new concept, which was protected March 15, this year. Under the new concept, we will be renamed into KMG - Processing and Marketing", director general said.