KazMunayGas may sell its stakes in Pavlodar and Atyrau refineriesNational Oil Company KazMunayGas (KMG) is considering a possibility of disposing of its stakes in the Pavlodar and Atyrau oil refineries, KMG’s press service reported on Friday."The disposal of the shares in the Pavlodar and Atyrau oil refineries was proposed by the Agency for Competition Protection and Development in order to increase competition in the oil refining and fuel markets by reducing the market share of the quasi-public sector. National Company KazMunayGas JSC is now considering this proposal, taking into account the fact that preparations for making such important decisions generally take a long time," KMG said in a press release.The company added that such processes as privatization typically span several years due to complex corporate, technical and economic considerations.The government is mulling over privatization of Atyrau Oil Refinery LLP and Pavlodar Petrochemical Plant LLP, said earlier Rustam Akhmetov, the deputy chairman of the Agency for the Protection and Development of Competition (the Antimonopoly Agency).“The government have held preliminary discussions to favor a proposal to dispose of 50% holdings in these assets. We can see a successful example of the Shymkent oil refinery [PetroKazakhstan Oil Products LLP], where 50% of the shares are privately owned. The refinery is managed by the private owner, which means that none of its managers are appointed by the government. As a result, there are significantly fewer accidents and technological failures and, consequently, the repair work scopes at the refinery are considerably smaller. This demonstrates that the private management is far more effective,” Akhmetov said in mid-March.There are three refineries in Kazakhstan: the Shymkent refinery, which is owned by KazMunayGas and CNPC on a parity basis, the Atyrau and Pavlodar refineries, which are controlled by KazMunayGas. (ICE ALMATY)

Fonte notizia: INTERFAX