KMG, Rosneft Deutschland discuss key aspects of Kazakh oil delivery to Germany

Kazakhstan’s KazMunayGas national company and Rosneft Deutschland discussed the key aspects of cooperation in supply of Kazakh oil to Germany, Kazinform News Agency reports.

The issue was discussed at a meeting of KMG CEO Askhat Khassenov and Rosneft Deutschland Executive Director Johannes Bremer.

The sides pointed out that Kazakhstan transported 993,000 tons of oil to Germany in 2023 and discussed the prospects for oil delivery in the nearest outlook.

Askhat Khassenov thanked the German side for fruitful cooperation and stated KMG’s readiness to develop cooperation with Rosneft Deutschland.

Last June, JSC NC KazMunayGas and Rosneft Deutschland entered into a deal on supply of crude oil to Schwedt -based PCK refinery. As per the agreement, KMG’s daughter company KazMunayGas Trading AG will deliver the oil, and the buyer is Rosneft Deutschland, one of the shareholders of PCK refinery.

According to the document, the supply comes from Karachaganak oilfield and was expected to reach 100,000 tons of crude oil per month until the end of 2023. The Kazakh company said it planned to deliver at least 890,000 tons of oil to Germany in 2023.  

KazMunayGas is a vertically-integrated oil and gas company engaged in the full production cycle from hydrocarbon exploration and production, transportation and processing to the provision of specialised services.  

Rosneft Deutschland is the third largest oil refining company in Germany with the annual capacity of around 12.5 million tons of crude oil , which is more than 12% of the total refining capacity in the country.