Baku, Azerbaijan, Oct.7
By Nargiz Sadikhova - Trend:
The finished modernization of Kazakh refineries allowed to fully meet the demand of internal market for petroleum products, Kazakhstan's Minister of Energy Kanat Bozumbayev said, Trend reports with reference to Kazakh media.
“Thanks to the modernization of Kazakh refineries, the volume of jet fuel production increased to 694,000 tons, which is 1.8 times more compared to the same period of last year. The share of import in jet fuel consumption will be decreased from 60 percent in 2018 to four percent in 2019,” Bozumbayev said.
According to him, the manufacturing volume can be increased to 850,000 tons a year if necessary.
“The ministry is noting the stable situation on the jet fuel market and the absence of deficit. Regarding the price of jet fuel, according to Argus Media, it varies from $578 to $621 per ton. At the same time, the price of the imported jet fuel varies from $672 to $700 per ton,” he added.
The minister added that the decrease of wholesale prices of jet fuel in Kazakhstan amounted to $65 per ton since December 2018.
According to him, jet fuel prices on Kazakh market are commensurate with prices for kerosene of Russian manufacturing and reflect market realities.
“At the same time, prices for imported Russian jet fuel operate as a constraining factor for the growth of wholesale prices for Kazakh jet fuel. Taking into consideration high dependence and fluctuations of petroleum products market, we expect that introduction of wholesale prices regulation is impractical,” the minister concluded.
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