Entity

KazMunayGas Refining and Marketing JSC (commonly abbreviated as KMG R&M) is the dedicated downstream subsidiary of National Company KazMunayGas JSC responsible for the management, coordination, and strategic oversight of Kazakhstan's oil refining operations and domestic petroleum product marketing. It functions as an intermediate holding company within the KMG Group structure, sitting between the parent company (NC KazMunayGas JSC) and the three operational refinery entities: Pavlodar Oil Chemistry Refinery LLP (POCR), Atyrau Refinery JSC, and PetroKazakhstan Oil Products JSC (PKOP / Shymkent Refinery).

The company is incorporated as a Joint Stock Company (JSC / АО) under Kazakhstani law. It does not independently produce, trade, or transport crude oil — its mandate is the governance and oversight of refining assets, coordination of feedstock supply to the three refineries, and the marketing and distribution of refined petroleum products within Kazakhstan's domestic market.

Historical Background

KMG R&M traces its origins to the pre-KMG era. The entity KazMunayGas – Refining and Marketing JSC existed as a separate state company before the consolidation of Kazakhstan's oil and gas sector. When National Company KazMunayGas JSC was established by Presidential Decree on 20 February 2002, it became the legal successor of three predecessor entities: Kazakhoil, Oil and Gas Transportation, and KazMunayGas – Refining and Marketing JSC. The refining and marketing function was subsequently re-established as a dedicated subsidiary within the enlarged KMG Group structure, retaining the KMG R&M name and mandate while operating under the governance of the consolidated national company.

Role Within the KMG Group

KMG R&M sits within the Refining and Trading segment of the KMG Group, which is one of three primary reporting segments alongside Exploration & Production and Oil Transportation. As of 2024, the KMG Group refines a combined throughput of approximately 18–19 MMtpy across the three domestic refineries, representing roughly 80% of Kazakhstan's total refining capacity. KMG R&M's operational mandate thus underpins the overwhelming majority of the country's petroleum products supply — including motor gasoline, diesel fuel, jet fuel, liquefied petroleum gas (LPG), and fuel oil.

The subsidiary's role is distinct from that of KazMunayGas Trading AG — KMG's Zug/Paradiso, Switzerland-based crude oil trading affiliate — which handles international crude trading and export marketing. KMG R&M's focus is domestic refinery governance and Kazakhstani product marketing.

Refinery Asset Portfolio

KMG R&M holds participatory interests in and/or exercises management oversight over the following three operating refinery entities:

• Pavlodar Oil Chemistry Refinery LLP (POCR) — 100% owned; located in Pavlodar, northeastern Kazakhstan; processes West Siberian crude; nameplate capacity ~140 kb/d

• Atyrau Refinery JSC — ~99.53% owned; located in Atyrau, western Kazakhstan; processes Kazakhstani crude from the Caspian basin; nameplate capacity ~110 kb/d

• PetroKazakhstan Oil Products JSC (PKOP / Shymkent Refinery) — ~49.72% owned (joint venture with CNPC Exploration and Development Company Ltd., a subsidiary of China National Petroleum Corporation, which holds the balance); located in Shymkent, southern Kazakhstan; nameplate capacity ~120 kb/d

Together, the three facilities produce the full domestic slate of petroleum products consumed across Kazakhstan's regions.