KazTransOil cutting transit of Russian oil to Uzbekistan

KazTransOil expects to transit 180,000 tons of Russian oil to Uzbekistan instead of the previously forecasted 300,000 tons by the end of the year.

Photo: KazTransOil

KazTransOil has reduced the forecast for the volume of oil transit from Russia to Uzbekistan, Oil Capital reports with reference to the company's data.

During the first half of the year, over 48 thousand tons of Russian oil passed through the pipelines of the Kazakh state operator. By the end of the year, the company expects to deliver another 131,000 tons.

In the spring, KazTransOil said about 250,000 tons of oil would be delivered. Now the forecast has decreased by about 28.4 percent.

The transit agreement between the countries was formalized in December 2022, during a visit to Tashkent by Kazakh President Kassym-Jomart Tokayev. Uzbekneftegaz and Kazmunaigas agreed on the transit of 300,000 tons of oil from Russia to Uzbekistan for $9 million.