Veteran Kazakh Leader Nazarbayev Resigns After Three Decades in Power
ALMATY (Reuters) – Kazakhstan’s President Nursultan Nazarbayev unexpectedly resigned on Tuesday after three decades in power, saying his oil-rich Central Asian nation now needed “a new generation of leaders”. Kazakhstan’s President Nursultan Nazarbayev writes during a televised address to inform of his resignation in Astana, Kazakhstan March 19, 2019. Kazakh …
Kazakhstan Oil Production to Decline in 2019
Oil production in Kazakhstan will decrease in 2019, said Kazakh Minister of National Economy Ruslan Dalenov, Kazinform correspondent reports. “Oil production will decline by 1.4 million tons YOY or 1.5 percent: 90.4 million tons in 2018 and 89 million tons in 2019. This causes lower growth paces in the mining …
Kazakhstan will Comply with Promised Oil Output Cuts as Giant Kashagan Field Shuts
Kazakhstan will shut production at its giant Kashagan oil field next month, bringing its production into compliance for the six months of the promised cuts under the OPEC/non-OPEC supply accord, energy minister Kanat Bozumbayev said Sunday. The average production over the six months will meet the commitment, as Kazakhstan will reduce …
Kazakhstan has Gained $132 Billion Since Tengiz Development Start
Kazakhstan has received $132 billion over the years of development of the Tengiz oil and gas field located in Atyrau region, Kazinform correspondent cites the press service of TCO. “Since 1993 through September 2018, TCO’s direct financial payments to the Republic of Kazakhstan exceeded $132 billion. This includes salaries for …
Kazakhstan: 9M Production Up 6.6% yoy
Oil production in Kazakhstan in January-September amounted to 57.629 million tons, which is 6.6% more than in the same period of 2017. This was reported in the statistics committee of the National Economy Ministry. In the reporting period, gas condensate was produced in the amount of 9.719 million tons (a …
Canada’s Oil and Gas Companies Ready to Invest in Kazakhstan
“14 companies from Alberta province of Canada expressed readiness to open their offices in Kazakhstan and invest into the country’s oil and gas and energy industries,” Laurent Auger, Director, Trade and Investment at Alberta Government, told a conference. The Canadian delegation arrived in Almaty to take part in the KIOGE …
Kazakhstan Upstream: Drilling Efficiency a Pressing Priority
2017: A Year of Achievements Over the of course 2017, a number of landmark events took place in the oil and gas industry of the Republic of Kazakhstan (RK). By year’s end, oil production was at an all-time high, at 86.2 million tonnes, exceeding the 2016 level by 10.5%. This …
Kazakhstan Intends to Produce Over 104 mln tons of Oil Per Year by 2025
Kazakhstan intends to produce more than 104 million tons of oil per year by 2025. This was announced by Kazakh Energy Minister Kanat Bozumbayev at a government hour on the development of the oil and gas sector in Kazakhstan on May 21. The volume of investments in major projects that …
Kazakhstan’s Oil Exports Hit 24 Million Tons
The volume of export of Kazakh oil since the beginning of the year amounted to 24.1 million tons. This was announced by Energy Minister Kanat Bozumbayev at a government meeting on May 15. Today the situation in the market of petroleum products is stable, there is no shortage of fuel …
Alexey Miller and Kazakh Energy Minister Kanat Bozumbayev Address Cooperation Prospects
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Kanat Bozumbayev, Minister of Energy of the Republic of Kazakhstan, took place in St. Petersburg today. The parties discussed the ongoing and future cooperation in the gas sector. It was noted that Gazprom had provided reliable gas supplies to Kazakhstan in 2017, delivering a total of 4.7 billion cubic meters …