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Asia Today ISSN 1861-4604 Tuesday, October 23, 2018

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Kyrgyzstan to buy 1 million tons of tax-free fuel from Russia in 2012

Kyrgyzstan's Association of Oil Traders

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Kyrgyzstan plans to buy 1 million tons of tax-free petroleum, oil and lubricants (POL) from Russia in 2012, KyrTAG quotes Zhumakadir Akeneev, President of Kyrgyzstan's Association of Oil Traders as saying.

According to Akeneev, the sides have an agreement in this regard. He said Kyrgystan had an agreement on buying 840,000 tons of tax-free POL from Russia in 2012 and the country covered this volume fully.

Part of purchased lubricants in 2012 will be used to create POL reserve in the country, Akeneev stressed.

He said Kyrgyzstan inquired about increase of tax-free fuel volume from Russia compared with 2011, because new enterprises may appear in the country during next year, and these enterprises may require additional fuel volumes.

It was noted that Russian company Gazprom was among the leaders of the domestic oil industry. Between 2006 and 2011 the annual oil production by Gazprom Group (accounting the oil volume produced by affiliates and joint ventures, in proportion to the ownership stake) has increased by 18 per cent – from 45.6 to 53.9 million tons. Such growth in volumes has been achieved through development of the existing oil assets and acquisition of stakes in the new ones.

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