KMG, PetroChina develop cooperation in oil refining

ASTANA. KAZINFORM - Beijing held talks between the leaders of JSC "National Company" KazMunayGas", JSC "KazMunayGas - refining and marketing" and «PetroChinaCompanyLtd.» - a subsidiary of CNPC state corporation of China, partner of KMG- refining and marketing managing "PetroKazakhstan Oil Products" in Shymkent.

During the talks the President of KMG Sauat Mynbayev and Vice President of China National Petroleum Corporation Wang Dongjin the KMG- refining and marketing and PetroChina have signed an agreement on further cooperation in oil refining in Kazakhstan. According to the press service of the national company, the document provides for the development of collaboration in order to further ensure the internal market of Kazakhstan with quality petroleum products. In addition, LLP "PetroKazakhstan Oil Products" and "China Petroleum Engineering & Construction Corporation" (abbreviated to CPECC)" have inked a supplementary agreement to a contract on the implementation of Phase 2 of "Reconstruction and modernization of Shymkent Refinery" project aimed at increasing plant capacity. PetroChina is the largest company is the structure of the Chinese state oil corporation CNPC managing assets in mining, refining, petrochemicals and natural gas. The controlling stake is owned by CNPC. China Petroleum Engineering & Construction Corporation (abbreviated to CPECC) is oil engineering and construction company, a division of CNPC, which has extensive experience in the implementation of major investment projects around the world including China and Kazakhstan.