KazTransOil announces signing final agreements with Transneft on payment of compensation to Kazakh oil companies for substandard crude oil
/KASE, December 30, 2019/ – KazTransOil (Nur-Sultan), whose shares are officially
listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following
press release of December 30, 2019:
As a part of the incident settlement related to contamination in April-May 2019
of about 699 thousand tons of crude oil shipped by 38 Kazakhstani oil companies
via the "Druzhba" trunk oil pipeline system, "KazTransOil" JSC, acting on behalf
of those companies, signed agreements with "Transneft" JSC to pay compensation
for substandard oil to the remaining 6 Kazakhstani oil companies.
Earlier, similar agreements on the compensation payment were signed in the
interests of 32 Kazakhstani oil companies, of which 14 companies have already
received compensation from "Transneft" PJSC.
To recap, an emergency in the system of Transneft trunk oil pipelines caused by
the presence of high concentrations of organochlorine compounds in the
transported oil occurred in April-May 2019, which led to the shipment of
substandard oil for Kazakh shippers to tankers in the port of Ust-Luga.