BAKU, Azerbaijan, December 20. Estonian fuel company Olerex could assist the Kazakh Aktobe Refinery in timely adapting its refining processes and fuel parameters to EU fuel quality standards, Chairman of Olerex Antti Moppel told TurkicWorld.
"Our cooperation with Aktobe Refinery is a good combination of the both parties' strengths. While Aktobe Refinery produces a wide range of low-viscosity marine oils, Olerex owns and operates one of the most versatile multimodal marine oil terminal in the free port of Tallinn. These capacities combined, we can be on the bunkering market on the Baltic Sea," he said.
Moppel noted that Olerex as part of the European Union oil sector, and member of the European Union Independent Oil Companies (UPEI), can additionally bring in valuable know-how about the developing legislative framework on the EU level, thus helping its partners at Aktobe Refinery to timely adjust their refining processes and fuel parameters to the changing EU fuel quality standards, inter alia, to comply with the coming RED III directive and Euro 7 emission standards.
"We feel growing interest from the side of the Kazakhstan oil refiners and traders to reach the European Union markets with their refined oil products. Olerex marine terminal is one of the fastest and shortest routes to the Baltic Sea shore and from there either to the Baltic States' internal markets, or by transit further to Scandinavia, and the Amsterdam-Rotterdam-Antwerpen area port hub in the Northern Europe," he added.
Olerex and Aktobe Refining have formalized a partnership agreement to collaborate on oil refining and marine fuel trading, utilizing Estonian infrastructure. This agreement was signed during the Business Forum in Astana, which took place under the patronage of Presidents Kassym-Jomart Tokayev and Alar Karis.
