Fuel prices to remain stable in May after talks with Russia, Kazakhstan

Minister of Industry and Mineral Resources G. Damdinnyam briefed Prime Minister N. Uchral on the outcome of his visits to Russia and Kazakhstan, focused on fuel supply and energy cooperation.

G. Damdinnyam said he held talks with Russian officials on fuel supply and delivered an official letter from the prime minister to the Russian counterpart. He also met Russia’s energy minister and executives of energy companies, reaching a preliminary agreement to address current supply challenges.

Russia has indicated it will supply fuel to Mongolia at domestic market prices, he said, adding that this will keep fuel prices stable in May.

Separately, Kazakhstan has expressed readiness to supply Mongolia with up to one million tonnes of crude oil annually, and the two sides signed a memorandum of understanding on cooperation in the oil sector.