Kazakhstan Reimports 70% of Russian Oil

The article reveals that the Condensat refinery in western Kazakhstan plans to refine Russian oil and export approximately 70% of its gasoline and diesel products to Russia. This move follows repeated Ukrainian attacks that have damaged Russian oil refineries, leading to fuel shortages and rising prices in Russia. The refinery will be supplied with Russian oil via railway, following an agreement between the two parties to retain 30% of the products for the Kazakhstani market. This step occurs amid market disruptions in Russia, where the government has imposed a ban on the export of gasoline and diesel in an effort to control supply and curb inflation caused by rising fuel prices. Additionally, the damage to the Novoshakhtinsk refinery in Russia has resulted in decreased production of petroleum derivatives and higher prices, with forecasts indicating an inflation rise of about 1.5 percentage points by 2026.

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