Page 14 - FSUOGM Week 18 2021

FSUOGM NEWS IN BRIEF FSUOGM

DOWNSTREAM Holdings Netherlands, which in turn owns CNG tyre factory in Kazakhstan is aimed at imple-
LLC (Ukraine LLC), the 100% owner of the menting the strategy for the economic integra-
Uzbekistan seeks buyer for Uzghorod licence in western Ukraine. tion of the countries of the Eurasian Union and
Cub is to receive consideration of €800,000 increasing the export potential of the Republic
Fergana Oil Refinery ($970,000) for its 50% interest in CNG. The of Kazakhstan.
consideration consists of €600,000 ($728,000)
The event was attended by Askar Mamin,
Uzbek state agency UzAssets announced on in cash on closing and €200,000 ($242,000) is Prime Minister of the Republic of Kazakhstan,
May 3 that Fergana Oil Refinery (FOR) has been a contingent payment on certain future events Rustam Minnikhanov, President of the Repub-
placed on the sales block. including a commercial discovery. The closing is lic of Tatarstan, Nail Maganov, General Director
Located on 478 hectares in Ferghana Val- subject to certain conditions including Ukraine of Tatneft, Andrey Lavrentyev, Chairman of the
ley, the country’s second largest refinery has an regulatory approval. The Company expects the Board of Directors of the Allur Group of Com-
annual production capacity of 2mn tonnes. In closing in approx. one to two months’ time and panies, Alik Aidarbayev, Chairman of the Man-
2020, it processed 900,000 tonnes of crude oil will use the cash for general working capital. agement Board of NC KazMunayGas.
and produced 822,000 tonnes of oil products. Patrick McGrath, Cub’s Interim Chief Execu- Tatneft presented the technological and inno-
Revenue at the refinery in the past year tive Officer, said: “Cub decided to divest its inter- vative potential of the Company at the ceremony
amounted to $231mn, while gross profit came est in CNG as we view it as a non-core asset that and confirmed its readiness to ensure the con-
in at $54mn. The facility produces 60 types will likely be capital-intensive in the near future, struction process performance in accordance
of petroleum products, fuels and lubricants, as it is at the exploration stage.” with the best world practices in the implemen-
including diesel fuel in accordance with the Cub Energy, April 30 2021 tation of large investment projects.
Euro-4 and Euro-5 standards. The project partners are the world’s leading
About 94% of its products are sold to the local manufacturers of the equipment for the tyre
market. PETROCHEMICALS manufacturing industry and the largest con-
In 2019, FOZ was said to have been sold to tractors in the Republic of Kazakhstan. There
Indonesia’s PT Trans Asia Resources. But the Tatneft, Allur commence will be up to 2 thousand persons engaged at the
deal failed within a set deadline for investment. construction site of the factory during the peak
During the first year, the investor was to attract construction of tyre period.
$120mn of investment towards optimal capacity A teleconference was also held with the pro-
utilisation and the development of a programme manufacturing factory duction site of the Kama Tyres in Nizhnekamsk
for modernisation. and employees of the future enterprise under-
PT Trans Asia Resources had a pre-emptive in Kazakhstan going training at the tyre enterprises of Tatneft.
right to purchase the refinery until December About 500 professionals from Kazakhstan will
31, 2019. Today a ceremony was held to start the undergo training and retraining by the time the
bne/IntelliNews, May 04 2021 KamaTyresKZ factory construction for the factory starting production operations.
production of automobile tyres, which is a joint The new factory will employ over 1,100 per-
Cub Energy announces venture of Tatneft Group and Allur in the city sons in 2025. The tyre manufacturing factory
of Saran, Karaganda region. The construction is products will be supplied for the primary equip-
sale of CNG interest scheduled for completion in 2022. The invest- ment of cars in Kazakhstan, which will increase
ments in new production facilities will amount the localisation of related industries, provide
Cub Energy has entered into a share purchase to 125bn tenge or $284mn. import substitution, while the plans provide for
agreement (SPA) to sell its 50% interest in CNG The project for the construction of a new about 40% of the product output to be exported

P14 www. NEWSBASE .com Week 18 05•May•2021