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Kazakhstan cancels customs duties on export of petroleum products

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Christian Fernsby ▼ | April 8, 2020
Kazakhstan has canceled customs duties on the export of all types of petroleum products – gasoline, diesel, jet fuel, liquefied gas, Kazakhstan’s Trade and Integration Minister Bakhyt Sultanov said on April 6.
Kazakhstan oil field
Kazakhstan   Kazakhstan oil field
He explained that the collapse of world oil prices has deemed the export of Kazakh oil products unprofitable.

Topics: Kazakhstan duties export petroleum

Moreover, the introduction of a state of emergency in Kazakhstan led to a significant reduction in domestic demand for petroleum products.

The ministry said both of these reasons have led to oversupply of petroleum products and in the future may need to shutdown oil refineries completely.

“In order to create conditions for the export of currently unclaimed petroleum products on the domestic market, zero export customs duties were established as of April 1 to the end of 2020,” he said.


 

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