SHNOS (Kazakhstan) has processed 2.6 million tonnes of oil during past 9 months of 1999

/IRBIS, Oct. 04, 99/ - According to REUTERS, which cite Chairman of SHNOS Board Nurlan Bisakov, because of difficulties with sales Shymkentnefteorgsintez (SHNOS) - oil refinery in the south of Kazakhstan for nine months of1999 has processed only 2.6 million tonnes of oil, that is by 150-200 thousand tonnes less than for similar period of 1998. "If all will be normal, we shall come to the last year's level", - Bisakov said. In 1998 SHNOS processed 3.7 million tonnes of oil. 90% of processed oil was delivered by the Canadian company Hurricane Kumkol' Munai, which extracts oil from the Kumkol' deposit in Kyzyl-Orda oblast. The others 10% were delivered by Kazgermunai and Kazahoil companies. However relation between Hurricane and SHNOS were frequently complicated because of different meaning concerning the a crude oil price and price of processing. Now attitudes are normalized, and two companies have signed the long-term monthly prolonged contract, which provides a purchase of all Hurricane's oil. Under this agreement from September 1 till October 15 Hurricane will deliver on SHNOS more than 500 thousand tonnes of crude oil. The main shareholders of SHNOS are: Dutch company Central Asian Industrial Investments NV (partly affiliated by Kazkommertsbank) - 50.3% of shares, Kazkommertsbank - 15%, Kazkommerts securities - 10.6%.