Kazakhstan and Russia agree higher oil supplies.

By bne IntelliNews February 22, 2012
Kazakhstan and Russia agreed higher oil supplies but no agreement was signed yet, Platts informed quoting oil and gas minister Sauat Mynbayev. Under the verbal deal, Kazakhstan will import 7mn tons of crude oil from Russia this year, 1mn tons up from what was earlier declared Russia planned to export. Moreover, Kazakhstan will import 1.6mn tons of light oil products which will ease oil products deficit in the country (Oil products imported from Russia account for 30% of Kazakhstans demand). Significantly, Kazakhstan imported 7mn tons of oil from Russia in 2011. The oil is used mainly at Pavlodar refinery located in the northern part of the country.

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