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Afghanistan supplies its first ever domestic refined oil to the market

in Afghan Business

Afghanistan supplies its first ever domestic refined oil to the market

oil refineryAfghanistan’s first ever domestic refined oil will be introduced in the market.

According to Head of Afghanistan’s oil and gas companies Azrakhsh Hafizi, over 5,000 tons of oil obtained from Amu Darya basin were sent to Kam International Oil for refinery.

He added about 2,500 tons of refined oil would be supplied in the market.

Petroleum companies have invested about USD 3bn and 750mn in the oil and gas sector of Afghanistan.

The Afghan government intends to establish a large oil reserve at a cost of USD 1.3mn.

The country’s first oil refinery, Kam International Oil, was established in August of last year. Kam International Oil, a joint investment between Kam Groups of Companies and a company in Azerbaijan, had an initial capital investment of USD 30mn.

The refinery has the capacity to refine 500 tons of oil on a daily basis.

Oil refineries would enable Afghanistan to release itself from depending on neighboring countries and approaching self-sufficiency.

Afghanistan presently requires 3 million tons of oil every year that are most imported from Turkmenistan, Uzbekistan, Russia, Pakistan and Iran.

Considering the local needs and presence of huge natural reserves, establishment of oil refineries would prevent currency flights and create job opportunities to thousands of Afghans.

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