News about Oil

Middle East oil disruptions to hit Asia first: IEA Asia will be the first to feel the impact of any Middle East oil supply disruption as regional demand surges, the International Energy Agency said Monday.

22 October 2012

Libya economy boosted by oil pending reconstruction Libya's economy has made a swift recovery after the 2011 conflict, with oil production returning to near normal levels: but insecurity is holding up reconstruction and keeping foreign companies at bay.

20 October 2012

Accident at Atyrau refinery will not cause oil products shortages No deficiency of oil products is expected in Kazakhstan, in spite of the accident at Atyrau oil definery.

17 October 2012

Conference seeks to curb exploitation of high seas Long spared because of their remoteness, the high seas have become an important hunting ground for fish trawlers and oil prospectors, putting at risk many marine species that call these waters home.

17 October 2012

Prestige oil disaster trial starts in Spain Seamen go on trial Tuesday over the sinking of the Prestige petrol tanker which spilt a devastating oil slick when it sank off Spain in 2002, with hundreds of plaintiffs seeking billions in damages.

16 October 2012

Atyrau oil refinery suspends petrol production An accident happened on October 6 in the furnace of the catalytic reforming block of LG 35-11/300-95 unit of the Kazakhstan refinery.

15 October 2012

Kazakhstan's oil export profits unveiled Kazakhstan exported 40.1 million tons of crude oil and gas condensate in January-July 2012.

15 October 2012

Malaysian company wants to tap Kazakhstan's oil Sumatec Resources plans to enter Rakushechnoe field in Kazakhstan.

11 October 2012

Kazakhstan may host World Petroleum Congress in 2017 Kazakhstan has good chances of holding the World Petroleum Congress in Astana in 2017: WPC president.

09 October 2012

Production costs will drive oil and gas prices up Head of the World Petroleum Council Renato Bertani believes that oil and gas prices will keep growing from year to year.

09 October 2012

Finland is interested in Kazakhstan's oil and gas Finland’s Minister of Foreign Trade Alexander Stubb arrived in Kazakhstan with a delegation of entrepreneurs.

09 October 2012

Russia against oil supplies to China across Kazakhstan at current export duty rate According to Russia’s Izvestiya newspaper, further implementation of the current taxation scheme may lead to Russia missing out on tax revenues of up to $ 1 billion a year.

08 October 2012

KazMunaiGas' prospects remain optimistic even in pessimistic scenario Production of oil and gas condensate will grow 1.6-fold in Kazakhstan by 2022: KazMunaiGas chairman.

03 October 2012

Oil Minister on oil transportation routes The Minister doesn’t rule out shipments of Kazakh oil via the Baku – Tbilissi – Ceyhan oil pipeline in future.

03 October 2012

Kazakhstan will wait for cheaper alternative energy Timur Kulibayev suggested to wait until wind and solar energy generation becomes cheaper.

03 October 2012

KazMunaiGas to invest over $6 billion in refineries modernization Reconstruction and modernization of Kazakhstan’s oil refineries is the most important priority in development of the sector and our economy: KazMunaiGas chairman.

03 October 2012

Nazarbayev discussed development of Kashagan and Karachaganak fields with Eni Kazakhstan President Nursultan Nazarbayev met with Eni's CEO Paolo Scaroni.

03 October 2012

Kazakhstan Oil and Gas Minister on status of major oil projects Speaking at the 7th Eurasian forum KAZENERGY, Sauat Mynbayev noted that Kashagan is expected to bring profits in 2013.

03 October 2012

ConocoPhillips might exit the Kashagan project: Oil Minister The Minister elaborated that “no official announcements have been made”.

02 October 2012

Rompetrol fully switched to Euro-5 fuel production Rompetrol has successfully completed modernization of Petromidia oil refinery and switched to production of Euro-5 fuel.

02 October 2012

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