energy

Kazakhstan bans export of oil products amid soaring fuel costs

By SRI ⋅ May 20, 2008 ⋅  Email This Post ⋅  Print This Post ⋅ Post a comment

Kazakhstan on Monday banned the export of all refined oil products, news agencies reported, as the energy-rich Central Asian nation grapples with soaring fuel costs.

The announcement, made by Prime Minister Karim Masimov at a government meeting, comes just days after opposition parties called on his government to resign amid what they call a worsening economic climate.

Kazakhstan has huge oil and gas resources, but soaring prices for consumer products like diesel and other fuel are having a knock-on effect on the country’s agricultural sector.

Continue reading…

(Associated Press/International Herald Tribune)

Tags: oil, oil products

Related articles

• Tax on oil to range from 5 to 18 percent
• Kazakhstan cuts spending in response to falling oil prices