News about Oil

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 13:53

KazMunaiGas and LUKOIL to sign cooperation agreements The memorandum of understanding and cooperation agreements will be signed between KazMunaiGas and LUKOIL.

16 May 2012 19:00

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 17:05

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 11:37

Nazarbayev wants to increase oil production Nursultan Nazarbayev met with top managers of Chevron.

26 April 2012 19:42

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 19:40

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 20:29

Kazakhstan government updated strategic fields list Kazakhstan Government has updated the list of the fields of strategic importance.

17 April 2012 16:34

Kazakhstan still expects first oil at Kashagan before the end of 2012 According to KMG, the Company plans to invest $8 billion into the project before 2014, with the total of investments into a range of projects standing at $20 billion.

05 April 2012 17:28

KazMunaiGas National Oil and Gas Company to join the top 30 global oil majors by 2022 As of now the Company is among the top 50 global oil and gas companies.

04 April 2012 17:28

Mega training project will be launched for Kashagan in Aktau An internationally certified training facility for oil workers is going to be built in Aktau to meet the develop of the nearby offshore fields.

22 March 2012 15:57

Oil-producing companies will pay 400 million tenge in fines: Kazakhstan Oil and Gas Ministry The list of penalized companies will be published on the website of the Oil and Gas Ministry in the beginning of April.

20 March 2012 15:31

Hyundai Marubeni of Japan to finance modernization of the Pavlodar-based oil refinery The actual construction is to start in 2013 and complete by the Q4 2015.

14 March 2012 14:03

Russia will supply gas to central Kazakhstan A gas pipeline will be built from Kostanai oblast going through Kokshetau and to Astana.

06 March 2012 15:34

Stake in Karachaganak will bring $5 billion to Kazakhstan by 2037 Kazakhstan's 10-percent stake in KPO will generate an additional profit of $3.3-5 billion: Oil and Gas Minister.

05 March 2012 16:20

BP reaches $7.8 bln partial settlement in US oil spill trial BP said Friday it reached a $7.8 billion deal to settle claims from fishermen and other private claimants affected by the Gulf of Mexico oil spill ahead of the start of a blockbuster US trial.

04 March 2012 11:41

Recoverable oil reserves in Kazakhstan to last for 50-60 years The figure may be increased from the current 5.3 to 17 billion tons through geological exploration works.

02 March 2012 09:30

We may get back to constructing fourth oil refinery to accommodate Kashagan oil: PM Massimov As of today, Kazakhstan-based refineries process a bit over 13 million tons a year. Plans are there to increase oil processing up to 17.5 million tons by 2015.

29 February 2012 16:37

Russia to send its oil to Kazakhstan duty free before 2014 After 2014 the two nations will be relying on swap operations: Samruk Kazyna Sovereign Wealth Fund Head Umirzak Shukeev.

27 February 2012 16:17

Gazprom Neft buys Kazakhstan fuel stations firm Management of Gazprom Neft made a decision to approve the purchase of 100-percent stake in Kazakhstan’s Sanol Invest.

22 February 2012 18:21

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