Kyrgyzneftegaz OJSC has introduced restrictions on the sale of crude oil to private individuals

Since taking office, Samsaly Chetimbayev, Chairman of the Board of Kyrgyzneftegaz OJSC, has taken a number of important decisions aimed at improving the company’s operational and financial performance.

In accordance with a board resolution, a restriction has been introduced on the sale of crude oil produced by the company to private individuals. From now on, all crude oil will be sent for processing to the Kyrgyz Petroleum Company refinery, and only finished products will be sold on the market.

Samsaly Chetimbayev noted that this decision will increase the company’s revenue, make it financially stable and create conditions for further growth.

As a reminder, the Tax Service had previously established that Kyrgyzneftegaz was transferring the extracted oil directly to private companies, rather than sending it for processing at Kyrgyz Petroleum Company, as a result of which the enterprise was losing a significant portion of its revenue.