Kazakhstan - 04

Kazakhstan: Outlook for KazTransOil’s Transformation: No Major Reforms in Sight

In late July, a Karaganda court issued a guilty verdict for 11 suspects accused of stealing oil from a KTO pipeline and the Kazakhstan-China Pipeline Company (an entity partly owned and operated by KTO). While the precise damage is still being calculated, the perpetrators stole tens of thousands of dollars’ worth of crude by cutting into pipelines, in the process inflicting hundreds of thousands of dollars worth of damage. However, our contacts in KTO say that this case was only tip of the iceberg.

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