News about Oil

Second and third phases of Kashagan development will start on time The second and third phases of the project will start on time and the profitability of the field time-wise is estimated until 2112: KazMunaiGas.
18 June 2012
KazMunaiGas calculates profits from oil dispatches via Romanian marine terminal Having created a direct link between the terminal and refinery we have optimized the oil supply process and significantly decreased technological losses and costs: KMG.
13 June 2012
China allocates over $1 billion for construction of advanced oil processing center in Atyrau The loan agreement between Export-Import Bank of China EXIM and Atyrau Refinery was signed in Beijing on June 6, 2012.
11 June 2012
Kazakhstan hopes Russian oil supplies to one of its three refineries will be resumed by July Late May Russia’s Transneft reduced oil supplies to the Pavlodar-based oil refinery twofold. Originally the oil refinery was designed to process only Russia’s oil.
05 June 2012
Kazakhstan to turn to oil tolling schemes to tackle petrol shortages Upon adopting respective amendments, Kazakhstan will be able to supply about 1.5 million tons of oil a year to China-based oil refineries for processing within oil tolling schemes.
05 June 2012
Commercial production at Kashagan to start between December 2012 and June 2013 Among other things, the sides have agreed to finance KazMunaiGas’ share of investments in 2012-2013 out of the consortium’s funds.
23 May 2012
Nazarbayev set new terms for use of oil and gas fields Nursultan Nazarbayev offered foreign oil and gas companies to develop Kazakhstan’s alternative economy in repayment for rights to develop natural resources.
23 May 2012
Russia halved oil supplies to Pavlodar refinery Normally monthly supplies made around 500 thousand tons. A little over 270 thousand tons will be supplied from Russia in May: speaker.
21 May 2012
In the wake of reduced Russia’s oil supplies to Pavlodar refinery Kazakhstan hopes to regulate all the debatable issues after forthcoming appointments in the Russian Government: Oil and Gas Minister.
21 May 2012
CPC expansion project to be completed in time: Oil and Gas Minister Back in 2010 the CPC shipped a total of 34.9 million tons of oil, including 28.4 million tons of Kazakh oil.
21 May 2012
Pilot oil production at Kashagan to start by year end Everything will be completed and pilot exploitation will start by the end of the year: KazMunaiGas chairman.
17 May 2012
Financial police to investigate into bribe allegations over Kashagan Early May Сorriere della Sera, an Italian newspaper, ran a material that Milan Prosecutor Office reportedly suspects Eni of bribing at the time of signing the deal on development of the Kashagan oilfield.
17 May 2012
KazMunaiGas and LUKOIL to sign cooperation agreements The memorandum of understanding and cooperation agreements will be signed between KazMunaiGas and LUKOIL.
16 May 2012
KMG mulls relocation of two villages in Atyrau oblast for $36 million KazMunaiGas EP is considering allocation of 5.4 billion tenge for relocation of the citizens of Baishonas and Yeskene in Atyrau oblast.
04 May 2012
KazMunaiGas to issue bonds at the APR of 6% to finance Kashagan: Central Bank Governor The National Oil Fund assets managed by the National Bank will be used to purchase the bonds.
28 April 2012
Nazarbayev wants to increase oil production Nursultan Nazarbayev met with top managers of Chevron.
26 April 2012
Oil refineries will not be suspended during the modernization: Oil and Gas Minister The Minister elaborated that in 2020 the Ministry plans to start constructing a 4th oil refinery given the projected demand in 2025.
26 April 2012
Foreigners can pump $20 billion out of Kazakh oil fields Foreign professionals will be able to earn $15-20 billion in 7-9 years working on development of major oil fields of Kazakhstan.
24 April 2012
Kazakhstan government updated strategic fields list Kazakhstan Government has updated the list of the fields of strategic importance.
17 April 2012
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