Transfer of state share in Aqtobemunaigaz to Access Industries makes it possible to create another integrated structure

/IRBIS, June 15, 01/ - GSRW informs that the first Vice-Prime Minister Daniyal Akhmetov assured the Parliament yesterday that the transfer of 25% state share in Aqtobemunaigaz to the management by US Access Industries meets state's policy to create vertically integrated companies which would comprise production and refining of oil. There are similar companies in Kazakhstan. Among them are Kazakhoil and the Atyrau refinery, Mangistaumunaigaz and the Pavlodar refinery, Hurricane-Kumkol Munai and the Symkent-based SHNOS. The only field without a refinery is the Aqtobe area which is close to the Russian Orsk refinery owned by Tyumen Oil Company (TOC). Given the fact that Access Industries is the major shareholder of TOC and that it offers to create an infrastructure to be linked with the Aqtobe area field, the government decided to transfer the state share in Aqtobemunaigaz. The China National Petroleum Corporation holds the controlling stock in Aqtobemunaigaz.