Kazakh court returned the case of PetroKazakhstan's partners for a new hearing

/REUTERS, Astana, Raushan Nurshayeva, May 13, 04/ - Kazakhstan Supreme Court on civil affairs passed back the trial between anti-monopoly agency and entities trading in oil products by Canadian PetroKazakhstan, to city court for reconsideration, Sansyzbek Raibayev the head of chamber said on Thursday. In February 2004 Astana city court resolved the issue around seven Kazakhstan- based companies - Zhanarmay trade, Petroleum Country, Munay Sauda Oil, Kazneftekhim, Vostok Munay Ltd., El-Munay and Kyzyl Orda Munay Service - that entered into collusive agreement in order to charge higher prices for oil products. The court compelled parties to return illegal profits in amount of KZT13.0 bn (approximately $93.5 million) to the budget. Raimbayev explained today's decision of the court by pointing at insufficient counterclaims investigation by the predecessor. He also noted that new board of judges would hear the trial. In the course of hearing before Supreme Court, the representative of traders expressed his clients' readiness to reach a consensus in the issue though was rejected. Canadian PetroKazakhstan paid a fine for KZT500 m ($3.6 m) for violation of antimonopoly legislation, after the latter won the case in Supreme Court in March. PetroKazakhstan operates one of Kazakhstan's three oil refineries based in Shymkent, Southern Kazakhstan and extracts oil at Kumkol group of fields. [2004-05-13]