The National Company KazMunayGas (KMG) and other Kazakhstani oil companies will export produced oil under the name KEBCO (Kazakhstan Export Blend Crude Oil), said Dauren Karabayev, Deputy Chairman of the Board of KMG.

“Since June, KMG and other Kazakh companies have decided that in the accompanying documents, in the certificate of origin of oil, KEBCO will be indicated in order to emphasize that this oil is of Kazakh origin so that buyers do not have questions,” he said at a briefing on Tuesday .

Earlier, Reuters reported that Kazakhstan, in connection with the imposition of sanctions against Russia, will change the name of the brand of oil exported through Russian seaports in order to separate it from oil of Russian origin and avoid sanctions risks and problems with financing.

Source: Turan News Agency