News about Oil

Oil production started at Kashagan The consortium has re-activated the first production well and produced the first oil from the field in the North Caspian Sea on September 11, 2013.

11 September 2013

British Max Petroleum strikes oil in Kazakhstan British Max Petroleum PLC has discovered oil at Sagiz West and Uitas fields in Atyrau oblast in western Kazakhstan.

11 September 2013

Chevron claims new proof of fraud in Ecuador pollution ruling US oil giant Chevron, hit in Ecuador with a record $19 billion fine for pollution, asked Monday for the court to consider what it claimed was "new evidence" the judge in the case was corrupt.

11 September 2013

Indonesia supports Astana's bid to host World Petroleum Congress Indonesia is ready to support Kazakhstan’s bid to host the World Petroleum Congress in 2017 in Astana.

10 September 2013

Kazakhstan’s President suggests working out an effective system to manage the country’s hydrocarbons By 2050 the share of alternative sources should be brought up to 50% (…) Kazakhstan does have all the prerequisites for that, he believes.

10 September 2013

Oil production at the giant Kashagan oilfield is to start in the nearest days Earlier the country’s media reported that the oil production was to start September 9.

10 September 2013

Oil prices slide from Syria-fuelled highs Oil prices lost support Monday after hitting 28-month highs over fears of fallout from a possible US military attack on Syria for its alleged use of chemical weapons.

10 September 2013

Oil production at the giant Kashagan oilfield to start September 9 Commercial production may start as early as before October 1: KazMunaiGas Head Sauat Mynbayev.

08 September 2013

Kazakhstan and China agree on construction of an oil refinery At the sitting of the Kazakh-Chinese Business Council the two sides signed contracts worth over $22 billion, according to Umirzak Shukeev, Head of Samruk Kazyna Sovereign Wealth Fund.

08 September 2013

Kazakhstan and China agree on sales of 8.4% in Kashagan to China’s CNPC The agreement is welcomed and supported by the two governments: China’s President Xi Jinping.

08 September 2013

Oil hits 28-month high in US on Syria tensions Crude-oil prices surged higher Friday amid US-Russia tensions over a potential military strike on Syria, pushing the US contract to a 28-month high.

07 September 2013

MangistauMunaiGas to drill five wells for bitumen plant Drilling of five new wells by MangistauMunaiGas in Kalamkas and Zhetybai fields is probably related to demand for new supplies to the bitumen plant in Aktau: expert.

06 September 2013

Caspian Consortium exports 22 million tons of oil Major oil exporter from Kazakhstan and Russian, Caspian Pipeline Consortium (CPC), has exported 21.7 million tons of oil in January-August 2013.

04 September 2013

Oil down as Obama seeks Congress approval on Syria Oil prices fell in Asian trade Monday after US President Barack Obama's announcement that he would seek approval from lawmakers for military action against Syria eased prospects of an imminent strike.

02 September 2013

Energy sector leads US stocks gains amid Syria jitters US stocks rebounded Wednesday led by energy companies benefiting from an oil price spike, as the West mulls a possible punitive attack against Syria for its alleged chemical weapons use.

29 August 2013

Oil production output in Kazakhstan to reach 110 million tons in 2018 As was reported earlier, the country’s Oil and Gas Ministry slashed the estimated crude and condensed gas production figures to 2016.

28 August 2013

Greenpeace protests Shell Arctic drilling at Belgian GP Greenpeace activists paraglided to the top of the main stand of the Belgian Grand Prix on Sunday to protest against drilling in the Arctic by the race's main sponsor, the Shell oil giant.

26 August 2013

Commercial production at Kashagan will not benefit Kazakhstan: industry source “The cost of all the project works was bloated several times, which is by billions of US Dollars”, according to the source.

19 August 2013

India, Iran looking to resolve oil tanker dispute New Delhi and Tehran were Saturday working to resolve a dispute over the detention of an Indian oil tanker by Iranian naval guards for allegedly polluting sea waters in the Persian Gulf.

18 August 2013

Indonesia anti-graft body arrests energy watchdog chief Indonesia's anti-corruption agency has arrested the head of the country's upstream oil and gas regulator over allegations of bribery.

14 August 2013

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