Kazakhstan Denies Rumors Of Atyrau Oil Refinery Stake Sale To China's Sinopec
Date
6/28/2024 10:09:02 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, June 28 . KazMunayGas (KMG),
Kazakhstan's state oil and gas company, denied speculation about a
potential sale of its 50 percent stake in the Atyrau oil refinery
to China's Sinopec, Trend reports.
During a recent visit on June 12, 2024, Sinopec specialists
exchanged insights with the oil refinery's officials on enhancing
operational efficiency. Sinopec had previously collaborated on
projects at the refinery between 2010 and 2016.
KMG stated that discussions on selling its stake were not held.
The company also denied receiving any inquiries or offers from
Sinopec regarding the sale or valuation of its stake in the Atyrau
oil refinery.
Meanwhile, Kazakhstan has been cooperating with Sinopec for a
long time. In particular, Kazakh KazMunayGas signed an agreement in
the field of geological exploration of the subsoil of the country
with China's Sinopec in May 2023. The document assumes a joint
study of 17 exploration sites located within the main and poorly
studied sedimentary basins.
China Petroleum & Chemical Corporation, or Sinopec, is a Chinese
oil and gas enterprise based in Beijing. It is listed in Hong Kong
and also trades in Shanghai. Sinopec Limited's parent, Sinopec
Group, is the world's largest oil refining, gas, and petrochemical
conglomerate, headquartered in Chaoyang District, Beijing.
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