Alma Ata, August 16 - Neftegaz.RU. Accroding to Chinese Xinhua, an oil refinery in Kazakhstan with a 50 % stake by the China National Oil and Gas Exploration and Development Corporation (CNODC) on August 15 put the 2nd phase of its renovation project to the final test.
With the success of the final test, the Shymkent oil refinery could deepen crude oil refinement and increase yield remarkably, said Bian Dezhi, general manager of CNPC Central Asia branch. CNODC is a wholly owned subsidiary of the CNPC and responsible for the parent company's businesses outside China.
The renovation will play a big role in conserving the local environment, securing an adequate oil supply in Kazakhstan, creating jobs and driving the local economy, he said. The Shymkent oil refinery was set up in the 1970s and used to be one of the three biggest refineries in Kazakhstan.
The CNPC invested in the oil refinery starting 2005 and has the equal right for joint management over the refinery and its products with KazMunayGaz, the state-owned oil and gas company of Kazakhstan. CNPC and KazMunayGaz each have a 50 % stake in the refinery.
