Kazakhstan asserts control over fuels and lubricants pricing

Kazakhstan’s government strengthened its hold over the fuels and lubricants market in April, asserting that private companies cannot make independent decisions to increase prices. According to Competition Protection Deputy Chairman Boris Parsegov, a group of companies, including PetroKazakhstan and its affiliate PetroKazakhstan Kumkol, tried to appeal the government’s decision. PetroKazakhstan is backed by the China National Petroleum Corp. (CNPC) and National Co. KazMunaiGas (KMG). (April 24, 2009)