Kazakhstan may transfer 49% stake in Pavlodar oil plant

/IRBIS, Nov.21, 00/ - REUTERS informs, with the reference to public relations department of the Ministry of Finance, that the government of Kazakhstan is considering the pass the state block of Pavlodar oil and chemical plant shares amounting to 49% under trust management. There is no information on whom these shares will pass to. Until now Pavlodar oil and chemical plant was called Pavlodar oil refinery, and was owned by oil producing Mangistaumunaigas who took the plant on account of its debts. In October of this year Mangistaumunaigas passed 49% of the plant's shares to the government, is said. The press-release reads that the government is considering the matter on passing the state block of shares of Pavlodar oil and chemical plant JSC under trust management in order to make the plant to function stable. Pavlodar oil and chemical plant, which is in the north of the country, is said to be the most modern of three oil refineries of the country designed for processing Siberian oil, while it periodically faces supply shortages. In July of 2000 the government canceled its concession agreement with the American CCL Oil, is said. Before the Mangistaumunaigas the plant was managed by the Ministry of energy, industry and trade.