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.

Megaprojects Will Not Save Us

Kazakhstan is one of the largest oil producing countries in the world with a large part of the economy depending on the oil and gas industry, and 50% of the budget revenues is financed by the petroleum industry, which concentrates a considerable amount of manpower. However, for the third year we are witnessing the decline of oil production in the country. If the peak year of 2013 we produced 82 million tons, it is planned to produce 75-77 million tons this year.

The Minister of Energy May run-down

The first report meeting of the new energy Minister Kanat Bozumbayev with the Fuel and Energy Complex (FEC) Public Council was held on May 24th in Astana. During the meeting the Head of the Department spoke in detail about the work of the Ministry of Energy in 2015 and 1st quarter of the current year, and about the development plans for the Department’s three strategic directions. The press-service of the Ministry of Energy has provided the Petroleum journal run-down of the Minister’s report.

2015: more defeats than victories

The Ministry of Energy of the Republic of Kazakhstan has announces the annual data forthe oil and gas industry. Across almost all key indicators the industry showed a decline compared with 2014, primarily as a result of changed prices, as well as the delay in the launch of theKashagan Field.

Uzakbai Karabalin: ''We Believe in the Long-term Demand for Oil and Gas''

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.

Transit Potential

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.

KAZENERGY National Energy Report: A New Look at Kazakhstan’s Energy Sector

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.

Which of Subsoil Users Will the Government Help?

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.

Oil Chronicles

October 2014

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.