Kazakhstan turns to Argus to value transport fuel imports

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Jan 31, 2018, 07:11 ET

MOSCOW, Jan. 31, 2018 /PRNewswire/ -- The Kazakh government has carried out its first audit of the country's oil product imports, using prices published by leading global energy and commodity price reporting and news agency Argus.

The audit was carried out by the Kazakh finance ministry's state revenue committee (SRC) last month. Oil product imports are vital to Kazakhstan, meeting a third of its diesel and gasoline requirements. Kazakhstan imports most of its oil products from Russia.

The SRC used prices published in the daily Argus Russian Motor Fuels report for oil products from Russian refineries on the Russian-Kazakh border to determine its valuation of Kazakh fuel imports.

Argus Media chairman and chief executive Adrian Binks said: "Kazakhstan is an important energy producer, consumer and importer. We opened an office in Astana more than 10 years ago and we have worked with the government and local companies in oil, gas and other commodities to develop products suitable for their needs. We are delighted that the government has chosen Argus prices to use for its important evaluation of fuel imports."

Kazakhstan also uses Argus prices in crude and natural gas markets.

Contact Information

Moscow
Alexey Komarov
+ + 7 (495) 933 7571 ext. 443
[email protected]

London
Seana Lanigan
+44 20 7780 4272
[email protected]

Houston
Scott Berg
+ 1 713 968 0000
[email protected]

Singapore
Pierre Lever
+65 6496 9960
[email protected]

About Argus Media

Argus is an independent media organisation with more than 850 staff. It is headquartered in London and has 21 offices in the world's principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets, and offers bespoke consulting services and industry-leading conferences.

Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.

Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders and global growth equity firm General Atlantic.

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SOURCE Argus Media