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KazMunaiGas postpones construction of oil refinery plant in Ceyhan

Astana. December 19. Kazakhstan Today - JSC National Company KazMunaiGas decided to postpone construction of oil refinery in Ceyhan. The President of JSC Company KazMunaiGas, Kairgeldy Kabyldin, informed on Thursday during the press conference in Astana, the agency reports. "Oil refinery plant in Ceyhan is one of those projects that we will probably postpone in conditions of the financial crisis," K. Kabyldin said. "It was actual when the prices for oil were favorable," he explained. "We have other priority, which is reconstruction of our own oil refining plants, their modernization, increase in the depth of processing, and increase of standards of their production," he continued. "This is the list of those projects, which we need to postpone, are now being discussed in the board of KazMunaiGas and we should finish by the middle of January its formation and to report to the Board of Directors, which set the aim to cut down expenses and to reconsider the investment program," the chairman of KazMunaiGas concluded.


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