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According to the country’s Minister of Economic Affairs Yerbolat Dossayev, the suspension of the project resulted in losing 0.5% of the GDP in 2014.

At least 50 000 jobs will be created to accommodate Kazakhstan’s workforce: Yerlan Muratov, Vice Chairman of the Board at Kazakhstan Engineering National Company.

890 foreign experts will be involved in reconstruction and modernization of the Shymkent Oil Refinery in southern Kazakhstan.

Several hundred Filipino and Vietnamese protesters united in a march in the Philippine capital on Friday, demanding that China stop oil drilling in disputed South China Sea waters.

KazMunaiGas Exploration Production JCS has announced a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field.

In monetary terms, the exports figure for the period made up $16.690 billion, 20.7% up against the like period of 2013.

An internal investigation of Petrobras' controversial $1.1 billion purchase of a Texas refinery is nearing completion, the Brazilian state oil giant's chief said.

Losses from the forthcoming two-year suspension of the Kashagan oilfield development project in Kazakhstan are estimated at two billion dollars in the least.

Kashagan project in Kazakhstan may get a new operatoring company in the nearest future.

Given the risks of further postponement of commercial production at the giant Kashagan oilfield, talks will be held with other oil companies to boost crude production figures, Tengrinews.kz reported earlier.

He elaborated that “these are preliminary data obtained from the consortium of foreign companies in charge of developing the oilfield”.

India might become the developer of Kazakhstan’s Abai oil block at the Caspian Sea.

A full-scaled resumption of crude production at the giant Kashagan oilfield should be expected at the end of 2015, Yves Louis Darricarrere, President of the Exploration & Production Division at Total SA, said earlier.

Armed pirates boarded a Singapore-managed oil tanker in the Strait of Malacca, kidnapping three Indonesian crew and stealing some of the vessel's shipment of diesel fuel, the International Maritime Bureau said.

Iran's crude oil exports have hit 1.2 million barrels per day, almost doubling from eight months ago when the country elected a new president, a top government official said.

According to Vagit Alekperov, LUKOIL head, the company plans to redirect funds into geological exploration, including in the Kazakhstan’s part of the Caspian Sea.

Talks will be held with other oil producers to boost crude production and exports by at least 1.5 million tons at other oilfields: Minister of Economic Affairs.

US oil giant Chevron and state-controlled YPF unveiled plans Thursday to spend another $1.6 billion to develop Argentina's Vaca Muerta shale formation for oil and gas projects.

Operations at gigantic Kashagan oilfield in Kazakhstan may be suspended for two years.

According to him, Kazakhstan’s Caspian sea port in Aktau now exports about 12 million tons of crude; the route to China also remains important.
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