News about Oil

NCOC and Agip to dispute Kashagan fine NCOC and Agip KCO intend to dispute the $737 million damage compensation for the break down at the Kashagan oil-field in court.

22 March 2014

Kashagan operator fined $737 million for flaring Kazakhstan ecologists are demanding that the Kashagan field operator pays a fine of $737 million to compensate the environmental damage.

21 March 2014

Crude prices up after Crimea referendum Oil prices rose in Asia Monday on increased geopolitical tensions as the United States hinted at fresh sanctions against Moscow after Crimea voted in a referendum to break away from Ukraine and join Russia.

18 March 2014

Libya intercepts tanker loaded with rebel oil Libyan authorities said they intercepted a North Korean-flagged tanker which had loaded crude from a rebel-held eastern port, as the conflict over the country's key petroleum revenues escalated.

11 March 2014

Kazakhstan raises export duty rates for crude Export duty rate for crude is to be raised from $60 to $80 per ton starting from April 1, 2014.

11 March 2014

Malaysia expects 'jet oil slick' analysis Monday Malaysian authorities expect to complete by Monday afternoon a lab analysis that could indicate whether an oil slick at sea came from a missing passenger jet, an official said.

10 March 2014

Wealthiest Kazakhs: Forbes 2014 Five Kazakhstan richest man made it into the Forbes list this year.

05 March 2014

Kazakhstan wants sole operator for Russian petroleum products supplies A KazMunaiGas subsidiary will be made the only operator managing petroleum products supplies from Russia.

04 March 2014

Kazakhstan-China tolling no longer feasible: Mynbayev Sauat Mynbayev, Chairman of KazMunaiGas (KMG), Kazakhstan's national oil and gas company, believes that duty-free supplies from Russia make shipment of Kazakhstan's crude to China for processing no longer feasible.

04 March 2014

KazMunaiGas Head on Kashagan It’s too early to talk of any specific figures, estimated expenses related to repairs of the pipe: KazMunaiGas National Oil Company Head.

04 March 2014

KazMunaiGas Head on the 4th oil refinery In the second half of 2016 the three oil refineries they will be able to fully meet the domestic demand: Sauat Mynbayev.

04 March 2014

Kazakh Minister of Economic Affairs on Kashagan We hope the production will be resumed in the second half of the year, with the production output reaching 2.5-3 million tons of oil: Yerbolat Dossayev.

03 March 2014

Kazakhstan to establish Drilling and Production Research Institute A research institute of oil drilling and production will soon be created in Kazakhstan.

27 February 2014

KazMunaiGas head on decreasing fuel supplies from Russia Given the domestic prices for fuel the Russian supplies are set to decrease: Sauat Mynbayev.

25 February 2014

There is still uncertainty at Kashagan: KazMunaiGas National O&G Company Head For Kazakhstan the situation might be not so bad; however, it has consequences for the Company: Sauat Mynbayev.

25 February 2014

PSA conditions at Karachaganak now favoring Kazakhstan Investments injected into the oilfield have been recouped: Minister of Oil and Gas Uzakbai Karabalin.

21 February 2014

Tanker explosion trial starts in Mangistau Oblast A trial of the petrol truck driver involved in the massive flaring of a petrol train has started In Mangistau Oblast.

20 February 2014

S. Korean constructors win $6bn refinery deal in Iraq A consortium of four major South Korean construction companies has won a $6.04 billion deal to build an oil refinery in Iraq.

19 February 2014

Oil markets tight, IEA warns World oil markets are unexpectedly tight as growth in advanced economies picks up, the IEA warned on Thursday, urging OPEC to skip a seasonal output drop as stocks touch six-year lows.

14 February 2014

Nazarbayev expects serious oil from Kashagan Nursultan Nazarbayev, President of Kazakhstan, is expecting some ‘serious’ oil from flicking Kashagan oil field at the Caspian Sea in 2014.

13 February 2014

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