Germany agrees to increase oil purchases from Kazakhstan 6 times to replace russian oil
In addition to Germany, Kazakhstan's oil is actively purchased by Italy, which was also previously dependent on russian raw materials
Germany will sharply increase its oil purchases from Kazakhstan to replace russian oil that has been embargoed by the EU.
During German President Frank-Walter Steinmeier's visit to Astana, the state oil and gas corporation KazMunayGas signed an agreement to supply Germany with 100,000 tons of oil per month from the Karachaganak field.
According to Interfax, the buyer under the contract will be Rosneft Deutschland, a former subsidiary of Rosneft, which has been under the external control of the national energy market regulator, the Federal Network Agency, since September last year. the city of Schwedt, which is one of the largest in western Germany and supplies gasoline to Berlin and most of Brandenburg.
The volume of deliveries will increase almost 6 times compared to the current ones: in January-May, the refinery, which was supplied by Rosneft before the war, bought 90 thousand tons of oil from Kazakhstan.
According to the Bureau of National Statistics of Kazakhstan, in the first quarter, 71% of oil exports from the country went to the European Union, compared to 65% in the same period in 2022.
In addition to Germany, Kazakhstan's oil is actively purchased by Italy, which was previously supplied by Lukoil, which had a large refinery in Sicily. Italy's share in purchases of Kazakh crude in the first quarter increased to 38% of the total volume from 28% a year earlier. France's share increased from 5% to 7%, and Romania's from 4% to 7%.
"Kazakh barrels are successfully replacing russian Urals," an oil trader operating in the Mediterranean told Reuters. According to him, Kazakhstan's CPC Blend, mixed with oil from Kurdistan, "almost perfectly" replaces oil from russia in terms of characteristics.
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