Result of the Year
Sustainable recovery in world oil prices became one of the trends of 2017. As of January of last year, a barrel of Brent was worth 55 USD, in the first half of the year it only became cheaper, down to 47.9 in June. But in the summer suddenly it went into the growth, and in December the monthly average value amounted to 66.9 dollars per barrel.
November 1, the Minister of Energy Kanat Bozumbayev held a meeting on the progress of the Pavlodar Petrochemical Plant (PPCP) modernization, with the participation of the Operating Vice-President of Transportation, Refining, and Marketing of the KazMunayGas Daniyar Tiesov and Director General of PPCP Shukhrat Danbay.
Karachaganak Petroleum Operating B.V. (KPO) has announced its performance results for the year of 2017. KPO General Director, Renato Maroli, said: “2017 was a tremendously successful and exciting year in many ways. For KPO it was marked by many important milestones and achievements which are truly remarkable”.
Oil refineries of the country produced 3 million tons of gasoline over a year - 4% higher than a year earlier production of diesel fuel, on the contrary, declined by 6% - down to 4 million tons
At the accounting board in Astana, the Ministry of Oil and Gas of the RK has summarized the results of Kazakhstan’s oil and gas sector development. The industry’s priorities are projects in the field of petrochemistry and providing gas to the country’s capital.
The oil industry
The volume of oil production in Kazakhstan reached 80.06 million tons in 2011. Although it exceeds by 0.5% the 2010 figures, the planned targets have not been fulfilled. “Unfortunately, for known reasons, a number of enterprises have reduced their production, in particular, Ozenmunaigas, by over 19 % compared with the plans,” stated the Minister of Oil and Gas of the RКSauat Mynbayev. “
JSC National Company KazMunayGas (KMG) has summarised preliminary results of its activity in 2010. The main accomplishment is that in the last year EIG has exceeded all main operational and financial indices continuing to be one of the backbone elements in the country’s economy.