Kazakhstan has developed draft Rules (methodology) of pricing for exported crude oil and gas condensate

  In accordance with subparagraph 3) paragraph 10 of Article 10 of the Law of the Republic of Kazakhstan dated July 5, 2008 "On Transfer Pricing", the Ministry of Energy of the Republic of Kazakhstan, as the authorized body responsible for managing the production of hydrocarbons, has developed a draft of Rules (methodology) for pricing exported crude oil and gas condensate.

This regulatory legal act is intended to establish the procedure for determining transaction price (sale) for exported crude oil and gas condensate, as well as to regulate determination of the components of the differential, including primary documents, and the procedure for their use.

Adoption of the Rules (methodology) will ensure the transparency of the pricing mechanism, increase revenues to the state budget and eliminate disputes between exporters and the authorized bodies.

(Photo from Strategy2050.kz)

Unofficial translation