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REUTERS ©
Kazakhstan still planning to resume production at Kashagan late 2016

Kashagan oil project in the Caspian offshore will be economically viable with oil rices standing at $100 per barrel, a Tengrinews.kz journalist reported earlier, citing Sauat Mynbayev, KazMunaiGas Chairman of the Board.

Kazakhstan still planning to resume production at Kashagan late 2016
Photo © Turar Kazangapov
Petrol follows tenge in free float: Kazakhstan government stops regulating prices

After the announcement that Kazakhstan governoment was stopping price regulation for petrol, prices spiked throughout Kazakhstan.

Petrol follows tenge in free float: Kazakhstan government stops regulating prices
©REUTERS
Oil prices will continue falling: Kazakh economist

Kazakhstani economist Vladimir Telnov predicts that global oil prices will continue falling in the next 5 to 15 years.

Oil prices will continue falling: Kazakh economist
©Turar Kazangapov
Nazarbayev urges exporters to sell dollars at home

After the devaluation of the Kazakh national currency tenge, Kazakhstan president asked exporters to sell dollars at the domestic market.

Nazarbayev urges exporters to sell dollars at home
RIA Novosti ©
Russia’s LUKOIL sells 50% in Caspian Investments Resources Ltd. to China’s Sinoptec

Caspian Investments Resources Ltd. is developing five oil field in Kazakhstan, notably Alibekmola, Kozhassai in Aktyubinsk oblast, Karakuduk, Severny Buzachi and Arman in Mangistau oblast.

Russia’s LUKOIL sells 50% in Caspian Investments Resources Ltd. to China’s Sinoptec
Photo © mgorod.kz
Mass axing of oil worker taking place in Aktobe

Kazakh-Chinese oil company Velikaya Stena in Aktobe in Kazakhstan's west is laying off many workers.

Mass axing of oil worker taking place in Aktobe
Photo © REUTERS
Karachaganak Petroleum Operating fined for improper storage of waste

Karachaganak Petroleum Operating has been fined for improper storage of 64.22 tons of liquid waste at Karachaganak field.

Karachaganak Petroleum Operating fined for improper storage of waste
©REUTERS
'Chemical attack' descends upon Atyrau

Excess hydrogen sulfide emissions in Atyrau in western Kazakhstan cause headaches and suffocation among residents.

'Chemical attack' descends upon Atyrau
Deputy Akim of Mangistau Oblast Rakimbek Amirzhanov and Consul General of Iran in Aktau Mahmoud Adib ©lada.kz
Next oil refinery in Kazakhstan to be built together with Iran

Deputy Akim of Kazakhstan's Mangistau Oblast declared that the fourth oil refinery in Kazakhstan would be built in cooperation with Iran.

Next oil refinery in Kazakhstan to be built together with Iran
©Yaroslav Radlovsky
Experts comment on Kazakh National Bank expanding tenge-dollar pegged corridor

Experts comment on the latest expansion of the tenge to dollar exchange rate pegged corridor in Kazakhstan.

Experts comment on Kazakh National Bank expanding tenge-dollar pegged corridor
Photo ©Tengrinews.kz
Kazakhstan in 10 World’s Worst Performers in Economy: Bloomberg

Kazakhstan ended up in the 10 World’s Worst Performers in Economy compiled by Bloomberg.

Kazakhstan in 10 World’s Worst Performers in Economy: Bloomberg
Photo © REUTERS
KazMunayGas to sell half of its Kashagan share to Samruk-Kazyna

KazMunayGas JCS (KMG) is selling 50% of the company’s share in Kashagan to the National Welfare Fund Samruk-Kazyna of Kazakhstan for almost $4.7 billion.

KazMunayGas to sell half of its Kashagan share to Samruk-Kazyna
Brazil's Petrobras slashes multi-year investment plan

Brazil's state oil giant Petrobras slashed its five-year investment plan by a whopping 77 billion dollars -- as it tries to recover from a massive corruption scandal.

Brazil's Petrobras slashes multi-year investment plan
REUTERS ©
Kazakhstan will not be compensating for expenses to replace pipes at Kashagan: Prime Minister

Commercial production at Kashagan started September 11, 2013. However, it was suspended 2 weeks later due to a gas leakage. The production process was resumed shortly. However, another leakage was detected in October.

Kazakhstan will not be compensating for expenses to replace pipes at Kashagan: Prime Minister
Photo courtesy of newskaz.ru.
OPEC unlikely to lose oil influence to US shale: analysts

OPEC's announcement that it is keeping crude output levels unchanged again, despite a collapse in oil prices, reflects the growing influence of booming US shale.

OPEC unlikely to lose oil influence to US shale: analysts
OPEC expected to keep status quo on oil output

OPEC ministers gather for an eagerly awaited meeting which is widely expected to leave its output levels unchanged, despite the recent oil price collapse and global oversupply.

OPEC expected to keep status quo on oil output
Photo courtesy of newskaz.ru.
Venezuela seeks allies outside OPEC to steady oil prices

Latin American crude producer Venezuela, struggling to cope with sharply lower oil prices, is seeking support outside OPEC to stabilise the market.

Venezuela seeks allies outside OPEC to steady oil prices
Saudi oil minister says OPEC strategy working

OPEC's strategy of not cutting production in order to maintain market share is working, Saudi Arabia's oil minister said.

Saudi oil minister says OPEC strategy working
©RIA Novosti
Gasoline prices rise in Kazakhstan

Caps on gasoline prices have been raised in Kazakhstan.

Gasoline prices rise in Kazakhstan
©REUTERS
Economic slowdown expected in Central Asia in 2015: IMF

The newly published IMF report on economic prospects of the Caucasus and Central Asia is not very optimistic.

Economic slowdown expected in Central Asia in 2015: IMF