In late 2023, the news appeared that JSC NC KazMunayGas began to have a 49% stake in KC Energy Group LLP, and in February 2024, this company appeared in the oil products domestic shipments plan of the Ministry of Energy. @NRG_monitor contacted the company with a number of questions, some of which were answered.
In late 2023, KC Energy Group LLP was established and its founders are the Chinese National Petroleum Corporation – CNPC and JSC NC KazMunayGas. What is the reason for the need to etsablish KC Energy Group?
Indeed, JSC NC KazMunayGas (49%) and the Chinese National Petroleum Corporation (CNPC – 51%) established KC Energy Group in order to introduce a new methodology for transparent interaction with market participants, complying with the legislation on state regulation of certain oil product types production and turnover, and antimonopoly legislation.
The new company is a strategically important link in the development of Kazakhstan’s economy. It provides petroleum products to the agricultural complex, heat supply and energy generating enterprises, gas filling stations, airlines, airports, etc. KC Energy Group assumes obligations to provide equal access to oil products being sold to all market participants. It should be noted that KC Energy Group supplies high-quality products at an affordable price in the country in the shortest possible time.
There are already players on the market engaged in this type of activity. What is your difference from other companies?
It would beincorrect for us to give a comparativeassessmentwithothercompanies,especially since it is not within ourcompetence.
As far as KC Energy Group is concerned, we follow the principles of transparency and openness. Our activities are regulated strictly in accordance with the laws and regulatory legal acts in force on the territory of the Republic of Kazakhstan. We are a young, dynamically developing company aimed at effective work with maximum use of our potential to solve the tasks set for the development of the country’s economy.
What is included in the scope of the new company’s activities?
The Company’s area of responsibility includes export and import operations, in particular, purchase of hydrocarbons, processing at refineries of the Republic of Kazakhstan and sale of refined products – both domestically and outside the country.
What are KC Energy Group’s goals in the short and medium term?
Improve and develop the petroleum products market to meet its growing demand through the most efficient and balanced supply to consumers in all regions of the country.
Eliminateallbarriersbetween the sellerand the buyer. Be an example of stabilityandreliability.
Be aware of our social responsibility to society and pay special attention to the integration of sustainable development principles.
Source: ENERGY MONITOR