KazTransOil to raise Russian oil transit to Uzbekistan by more than 3 times

KazTransOil JSC plans to raise the volume of  Russian oil transit through the territory of Kazakhstan to Uzbekistan to 500 thousand tons in 2024. This was announced by director of the transportation department of KazTransOil JSC Abai Beissembayev at the Issuer's Day organized by the Kazakhstan Stock Exchange, Kazinform News Agency reports.

As Abai Beisembayev said,  Sanoat Energetika Guruhi, one of the largest oil and gas companies of Uzbekistan, applied to KazTransOil JSC for the transit of 500 thousand tons of Russian oil to Uzbekistan in 2024 with the possibility of increasing the volume to 1 million tons, a press release from the Kazakh company reads.

KazTransOil plans  to transit up to 154 thousand tons of Russian oil to Uzbekistan through its pipelines system by the end of 2023.  Meanwhile, in January-October 2023, the Kazakh company transported 104 thousand tons of Russian oil to the neighboring country.

KazTransOil transits Russian oil through the territory of Kazakhstan to Uzbekistan under the oil delivery schedule approved by Kazakhstan’s Ministry of Energy.

Pumping of Russian oil to Uzbekistan through the main oil pipeline system of KazTransOil was launched in 2017. The transit volume in 2017 amounted to 67.9 thousand tons and in 2018, this figure made 36 thousand tons. In 2019-2022 there was no transit of Russian oil through Kazakhstan to Uzbekistan.

On February 1, 2023, the Kazakh company raised tariff for Russian oil transportation through the territory of Kazakhstan to Uzbekistan from USD 25.12 to USD 27.9 per 1 ton (excluding VAT).