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Kazakhstani Oil Rebranded

OIL

Kazakhstan oil exporters will designate their oil supplied for sale as KEBCO (Kazakhstan Export Blend Crude oil) on shipping documents according to Deputy CEO of KazMunayGas Dauren Karabaev in a briefing this morning.

  • "Starting from June, KazMunayGas and other Kazakh companies decided that KEBCO (Kazakhstan Export Blend Crude Oil) will be indicated in shipping documents, that is, in the certificate of goods origin, in order to stress that this oil is of Kazakh origin," Karabaev said.
  • Kazakhstani exporters had feared their oil would effectively be sanctioned if international buyers steered clear of it because it mainly transits Russian pipelines where it could be mixed with Russian crude.
  • "We are currently implementing awareness-building among oil buyers, international traders and co-financing banks to explain this situation. Basically we have not had any problems with selling our oil so far,"

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