Kazakhstan

Kazakhstan and China concluded agreement to upgrade oil refinery

npz-kirgiz

In Peking Petro Kazakhstan Oil Products company, which operates the oil refinery in Kazakhstan Shimkent city, and China Petroleum Engineering and Construction (CPECC) have signed the additional agreement to the turn-key contract to implement the second stage of the oil refinery upgrade.

KazMunaiGas Refining and Marketing company which is one of the shareholders of the oil refinery, said on Friday that the document stipulates a firm contract price based on the state examination of the project documents received by Petro Kazakhstan Oil Products.

The project for upgrade of one of three biggest oil refineries in Kazakhstan is aimed at expanding capacity of the refinery from 5.25 up to 6 million tons, increase in production of light oil products from 61 to 89% and improving quality of products up to Euro-3 standard.