Kazakhstan and Germany ink oil trade deal

Kazakhstan

ASTANA, June 21, 2023 – Kazakhstani NOC KazMunayGaz and Rosneft Deutschland have signed an agreement to deliver 733,000 barrels of oil per month until the end of 2023 to a refinery in Germany, Bloomburg reported on Tuesday.

The gas will be sourced from Kazakhstan’s Karachaganak field and delivered via the Druzhba pipeline to the PCK Raffinerie refinery.

A volume of around 6.5 million barrels of oil will be delivered until the end of the year.

“The supply of additional volume of Kazakh oil will ensure the future of the oil refining industry and fuel supply for East Germany,” said Germany’s President Frank-Walter Steinmeier during a visit to Astana, Kazakhstan, this week.

The move follows Belarus pipeline operator Gomeltransnafta Druzhba announcing plans to hike up transit tariffs on its section of the Druzhba pipeline by 84% from the beginning of July 2023.