Results and Prospects
The Ministry of Energy summed up the results of the work of the oil and gas industry in 2021 during the extended board meeting. According to the results of 2021, 85.9 mln tons of oil were produced in Kazakhstan; the plan for 2022 is 87.5 mln tons. Of this volume, 67.6 mln tons of oil were exported (the goal for 2022 is 69 mln tons). The petroleum products production volume amounted to 12.7 mln tons.
National Company KazMunayGas JSC, Kazakhstan's national vertically integrated oil and gas company, announced operating results for 2021 and presented a financial report for last year.
At an extended meeting of the Ministry of Energy of the Republic of Kazakhstan panel on March 5, the oil and gas industry's work in 2020 was summed up, and tasks for 2021 were outlined.
The Government of Kazakhstan has selected enterprises and companies that should go into private hands during the "second wave" of privatization of state assets. The list is published on the State Property Agency website gosreestr.kz.
KazTransGas, the national operator in the field of gas and gas supply, has become an independent portfolio company of the Samruk-Kazyna Fund.
A decline in economic activity this spring caused by the COVID-19 outbreak and the ensuing massive lockdowns has led to a drastic fall in global demand, combined with a crash in energy prices, with the oil market taking the hardest hit.
The year 2020, which is coming to its end, turned out to be quite difficult for Kazakhstan's oil and gas industry.