In fact, this is very important and simply excellent news for Kazakhstanis. Kazakhstan became the main supplier of oil in Europe, from where Russia was far away due to the oil embargo.
Kazakhstan oil supplies have become the main source of raw materials for European refiners, media holding S&P Global reports with reference to tanker tracking data.
According to S&P Global, European companies have sharply accelerated the transition to alternative sources of supply, now they mainly receive crude oil from Kazakhstan, Azerbaijan and Norway. Import of Russian oil to the EU dropped to a record low level.
"To replace crude oil from Russia, many refiners from the European Union switched to Kazakhstani oil brands CPC Blend and KEBCO, which together became the largest source of imports in the amount of 1.2 million barrels per day in November. This is 13% of the total marine imports of crude oil by the European Union," notes S&P Global.
In addition to Kazakhstan, Azerbaijan, Brazil, Norway, the USA and Guyana increased their share in the supply of oil to the European market.
