BAKU, Azerbaijan, Apr. 13
Trend:
Kazakhstan’s Ministry of Energy, as an authorized body in charge of hydrocarbon production, has developed a methodology for pricing of exported crude oil and gas condensate, Trend reports citing the ministry.
According to the Energy Ministry, the draft Rule was developed in accordance with subparagraph 3 of paragraph 10 of Article 10 of the Law of Kazakhstan dated July 5, 2008 ‘On Transfer Pricing’.
"This regulatory legal act is intended to establish the procedure for determining the transaction (sale) price for exported crude oil and gas condensate, as well as regulate the determination of the differential components, including primary documents, and the procedure for their use," follows from the ministry's message.
The adoption of the Rules will ensure transparency of the pricing mechanism, increase revenues to the state budget and exclude any disputes arising between exporters and authorized bodies.
