KazTransOil announces completion of payments from Transneft to Kazakh oil companies for substandard oil

/KASE, February 28, 2020/ – KazTransOil (Nur-Sultan), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release of February 28, 2020: quote On February 27, 2020, the last Kazakhstani oil company received compensation from "Transneft" PJSC. Thus, all 38 Kazakhstani oil shippers received compensation, in accordance with agreements signed between "Transneft" PJSC and "KazTransOil" JSC, which is acting on behalf of Kazakhstani oil companies on the issue of compensation for the shipment of about 699 thousand tons of substandard oil in the port of Ust-Luga. As it was previously reported, 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. unquote [2020-02-28]