Major oil companies in Kazakhstan still have profits,resulting from oil production, and the brownfield operators are already operating at a loss. The Deputy General Director of the Kazakh Institute of Oil and Gas Akbar Tukayev will explain the presentsituation in the industryduring a brief interview to KazTAG: whether the costs invested in Kashagan field will be recovered and should we expect the cost of gasoline to reduce.
We believe in long-term demand for oil and gas, and Kazakhstan will enhance its capabilities to ensure the energy security of the world. Of course, no industry in the world’s economy can avoid bumps and a wide variety of different factors. Negotiations and constructive team-work help to overcome them with minimal losses in least possible amount of time.
Vladimir Shkolnik, Minister of Energy of the Republic of Kazakhstan answers the questions of Petroleum magazine
Mr.Shkolnik, last year the world energy market faced truly tectonic changes, caused by falling prices of hydrocarbons. In turn, it affected the profitability of alternative energy, projects for the extraction of shale oil, etc. What changes are resulted in the plans of the Government of Kazakhstan in the energy area in connection with such a situation? What place takes currently the oil and gas industry in the system of energy security?
In early October, during KIOGE, the Deputy General Director of KazTransOil JSC Bulat Zakirov talked about importance of developing the transit potential of Kazakhstan. Kazakhstan-China pipeline operates successfully; CPC pipeline expansion is about to be completed; tankers cross the Caspian Sea -everything allows us thinking of new stage of developing the oil transportation system of the country. Mr.Zakirov answered the questions of Petroleum magazineon the sidelines of the Conference.
Marat Shaidollayevich, KPO company is one of the major investors in the Kazakhstani economy. Economic and social wellbeing of the Western Kazakhstan region directly depends on successful development of the project. How does the company feel under the circumstances of world oil prices decline?
In 2013, KAZENERGY Association decided to prepare a comprehensive document containing information about the current state and growth prospects of Kazakhstan’s oil and gas, coal, uranium, heat and electric power industries. The main goal was to obtain structured data that would provide a clear picture of the situation in the country’s fuel and energy sector (FES), examining the main issues facing the industries within the sector, determining priority measures that need to be taken to address these issues and offering long-term forecasts for the sector’s growth.
Since January 1 the Treaty on the Eurasian Economic Union (EEU) signed by Russia, Belarus and Kazakhstan has entered into force. Four key economic freedoms have begun operating on the territory of the Union: freedom of movement of goods, services, capital and work force.
Thirty ninelow-profitable oil and gas companies of Kazakhstan will soon get tax preferences from the government.
Let’s remind that on August 20 the National Bank of Kazakhstan has introduced a floating exchange rate of the tenge which resulted in the fall in the value of the national currency by 35%. Later, at the briefing at Central Communications Service of the RK the First Deputy Prime Minister Bakytzhan Sagintayev informed that till October 1 the total tax burden for low-profitable oil companies will be reduced. “In cooperation with KazEnergy Association we conducted in-depth analysis of all 57 oil and gas companies.
Kenzhebek Ibrashev, General Director of PSA LLP gives an exclusive interview to Petroleum magazine and tells how Kazakhstan protects its interests within the frameworks of the existing PSA
-Mr.Ibrashev, could you please tell us more about the activity of PSA LLP. What projects are supervised by this organisation? What are the mechanisms available for monitoring these projects?
October 9, Yerbolat Dossayev, Minister of National Economy, said at a briefing that the Government of Kazakhstan designed a scenario of economic in case of a slump in oil prices below $80 per barrel. “I have presented a socio-economic development forecast, the negative scenario is based on the 80 dollars per barrel. We have calculated some options in the event of further price declines,” Dossayev said. He reminded that Kazakhstan’s economy depended largely on the price of oil on world markets.
On May 29, 2015, one year passed after signing the Agreement on Establishment of the Eurasian Economic Union (EEU), which gave an additional impetus to the mutually beneficial, equitable development of the economies of Russia, Kazakhstan and Belarus, including such areas as the industry, transport, energy, agriculture, and it promoted to a more effective use of the equal partnership potential. The business circles of our countries have already appreciated the advantages of the provided conditions, expressed in terms of trade, investment, growth in the number of joint ventures and projects in both the manufacturing and services sectors.
The president of Kazakhstan, Nursultan Nazarbayev, registered as candidate for the highest state office in the country. As you know, on February 14, on the Valentine's day, the Assembly of people of Kazakhstan admitted in love to the head of State and urged their deputies group in the Majilis of the Parliament to take the initiative to hold early presidential elections.
Europe: Energy Union as a New Energy Paradigm? Security and Independence is a Key Strategy for the EU#2 (92), April 2015 special issue
European Commission published the Concept of the Energy Union on February 25. It should be recognized that the forthcoming establishment of the Energy Union means the next stage of deepening the integration process. This Union will be the third integration model after creating the Monetary Union (with its supranational currency-Euro and its management body-the European Central Bank) and Banking Union (with the creation of a single supervisory authority over the European banks).
Atyrau’s coat of arms reflects its two treasures: oil and fish. Missing from the coat of arms is one more treasure – the people. As it turns out, Atyrau gave our country a panoply of talented figures who left a legacy in the history.
Late last year, KAZENERGY Association published its National Energy Report-2013, which presented an analysis of the situation and of development prospects for the fuel and energy complex of Kazakhstan. According to the statement made by Asset Magauov, the General Director of the Association, the relevant ministries, scientific & research institutes, members of the Association and a number of consulting companies has been involved in Report preparation. The Report contains exclusive data, analyses and expert findings on the situation in the fuel and energy industry in Kazakhstan and abroad. According to Mr. Magauov, opinions of the World Energy Council, of the World Petroleum Council, as well as general global research and forecasts in the energy industry were taken into account in the preparation of the document.
In 2009, at the height of the global financial crisis and the sharp drop in oil prices, a barely noticeable event occurred on the background of global turmoil that determined the current dramatic situation in the world oil market - oil production in the United States began its steady increase