PETROLEUM. Analytical journal. New projects, fields’ development, production, processing and transportation of oil and gas, presentation of the companies, statistics on the production of hydrocarbons, monitoring of investment legislation.

The results of 2024 and the outlook

By 2050, the world will change, but the need for reliable, affordable energy that drives economic prosperity and improves living standards while reducing greenhouse gas emissions will remain just as critical as it is today. The global population will continue to grow, driving energy demand higher. Achieving this balance will require wind, solar, oil, natural gas, and nearly every other available energy source because access to energy fosters human development and enhances the quality of life.

Editor❜s Note

Traditionally, the June issue of the journal is dedicated to oil refining and petrochemicals. Just a couple of years ago, we were summarizing the nearly decade-long and finally completed Comprehensive Modernization Program of the oil refining industry. Today, it turns out, we are on the brink of another equally ambitious initiative.

The bold forecasts for the global economy

In its «Shocking Predictions» for 2024, released on December 5th, Saxo Bank forecasted an increase in oil prices to $150 per barrel. Saxo Bank traditionally publishes these bold forecasts for the global economy at the end of each year, which are often taken with a grain of salt and seen as tongue-in-cheek to entertain the audience. After all, the Danish bank describes scenarios that at first glance seem utterly improbable, with the caveat that should they occur, a colossal shockwave could hit the markets.

From the publisher

One year after the release of our previous special issue on petrochemicals and petroleum refining (Petroleum, No. 3-2022), several significant events have transpired. These events indicate substantial steps towards the development of a domestic gas chemical industry.

Petroleum Council Accredits Petroleum Journal

On September 28, the certificate of accreditation was presented to the publisher of the journal Oleg Chervinskiy by the Director General of the Kazenergy Association Kenzhebek Ibrashev at the Kazakh-British Technical University in Almaty.

The key topic of today's issue

 The key topic of today's issue is the oil refining industry (existing) and petrochemistry (which we have been trying hard to create over the past decade).

What are we doing wrong? Why has Kazakhstan not become an exporter of petroleum products after an expensive program of modernization of domestic refineries? Will there be enough raw materials for gas chemistry in the country, and will we be able to compete with our neighbors Russia, China, and Uzbekistan in sales of manufactured products?

December

You are holding a special issue of the journal dedicated to the anniversary of the Independence of Kazakhstan.

February

In early February, the Financial Times cautiously predicted the start of a new cycle in commodity markets. The publication's forecasts are based on conversations with investment bankers who advise their clients to increase their investments in raw materials, the demand for which, in their opinion, should grow due to the rapid recovery of the global economy after the pandemic.