Some specific features of transformation of Kazakhstan oil trading model in conditions of uncertainty. Challenges, opportunities and prospects
UDC: 33(574)
DOI: -
Authors:
KATYUKHA PAVEL B.
1,
AKKENZHENOV ERLAN K.2
1 National University of Oil and Gas "Gubkin University", Moscow, Russia
2 Ministry of Energy of Kazakhstan, Astana, Kazakhstan
Keywords: global commodity market for energy resources, oil and petroleum products commodity market in Kazakhstan, spot, urgent, derivatives segments of oil global commodity market, world practice of market and government pricing of oil and petroleum products, price benchmarks, exchanges, spot hubs
Annotation:
The authors of the article, brought to your attention, is the first one in a series of articles by the authors on the oil and gas sector of Kazakhstan, its evolution, pricing structure, market price indicators as well as the opportunities and prospects for cooperation of Kazakhstan within the framework of various international organizations. The leaders of Kazakhstan have repeatedly expressed opinion on the necessity of reforming the structure of the fuel market in Kazakhstan and the pricing system for oil and petroleum products as well as considering the possibilities of transition from state to market pricing mechanisms, which will allow identifying clear and transparent price indicators (benchmarks) in the internal and external segments of the oil and petroleum products commodity market in Kazakhstan. Participants of Kazakhstan fuel market urgently need these price indicators not only to improve the efficiency of various companies, but also to hedge the risks of price changes in future using derivative financial instruments at the derivatives market.
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