Kazmunaygas seeks up to $3bn in advance payments from Vitol
ALMATY, December 2, 2015
Kazakh state-owned oil and gas company KazMunayGas plans to receive up to $3 billion from trader Vitol in the form of advance payments for crude shipments from the Tengiz oilfield, KazMunayGas said in a statement on Wednesday.
KazMunayGas, which has a 20 percent stake in Tengiz, said it expected to get the first tranche within 2-4 months, but provided no other details.
The firm's deputy head, Daniyar Berlibayev, said in September it was considering three-year deals for such financing. - Reuters
