Nur-Sultan Wants to Boost Oil Trades on Exchange

Kazakhstan’s government has developed a plan to raise competition

The volume of the export of gasoline, diesel, jet fuel, bitum and liquid petroleum gas will be increasing over 2021-2025, according to the new national project. The goal of the document is to increase the level of business competition in the country. The Agency for Protection and Development of Competition of the Republic of Kazakhstan, which is an authorized body in this field, has published this document to let all interested sides share their views on it. 

The government expects that the new approach will allow businesses to increase sales of gasoline from 57.8 billion tenge ($138 million) in 2021 to 96.2 billion tenge ($229.9 million) in 2022; $298.7 million in 2023; $373 million in 2024 and $426.8 in 2025. At the same time, the volume of exchange trade with diesel will surge from $169.6 million in 2021 to $282.4 million in 2022; $367 million in 2023; $458 million in 2024 and $524.3 in 2025.

The trading volume of jet fuel might rise from $12.4 million in 2021 to $30.8 million in 2022; $40.1 million in 2023; $51.6 million in 2024 and $57.5 million in 2025.

Also, the government predicts a growth of the trading volume of bitum from $21.5 million in 2021 to $38 million in 2022; $49.4 million in 2023; $61.7 million in 2024, and $70.6 in 2025.

Concerning the liquid petroleum gas, its trading volume will rise from $96.5 million in 2021 to $199 million in 2022; $207 million in 2023; $215.5 million in 2024 and $222 million in 2025. These figures mean that trading with this type of fuel will involve 100% of the product available on the market.

Wheat is another commodity that should surge once the new methodology of trading is applied. Its trading volume will increase from $21.9 million in 2021 to $22.7 million in 2022; $23.7 in 2023; $24.7 in 2024 and $25.4 in 2025. 

To facilitate this process, the agency is planning to train at least 500 market participants each year. This and other ideas of the announced concept should be publicly discussed before April 5.
 

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