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Finance Minister Bolat Zhamishev. ©flickr.com/photos/karimmassimov
Kazakhstan Government has no plans to raise export duty on crude: Finance Minister

According to him, the issue of raising export duty on oil is not considered in the draft three-year budget.

Kazakhstan Government has no plans to raise export duty on crude: Finance Minister
KazMunayGas Chairman of the Board Kairgeldy Kabyldin. focus.kz stock photo
KazMunayGas and KC Kazakh B.V. of South Korea agree on a drill rig at jointly developed Zhambyl oil block

Early next year the drill rig will be delivered to the Caspian Sea in separate blocks.

KazMunayGas and KC Kazakh B.V. of South Korea agree on a drill rig at jointly developed Zhambyl oil block
KazMunayGas building in Astana. Photo courtesy of astana.kz
KazMunayGas announces H1 2011 results

The Company accounts for 65% of overall oil transportation, 100% of gas transportation, 50% of tanker transportation in Kazakhstan. 100 per cent of the Company’s shares belong to the National Sovereign Wealth Fund Samruk-Kazyna.

KazMunayGas announces H1 2011 results
©RIA Novosti
Lukoil finally closed Kazakhstan oil fields

Russian oil company Lukoil closed two of three exploration projects at Caspian shelf in Kazakhstan.

Lukoil finally closed Kazakhstan oil fields
©RIA Novosti
Petrol price 17.4% up

Earlier Tengrinews.kz reported that In January – July 2011 petrol production in Kazakhstan had dropped 16% as compared to the like period of 2010.

Petrol price 17.4% up
Oil drilling. ©RIA Novosti
Given the oil prices, Kazakh economy has substantial strength reserve: Samruk Kazyna official

As a patriot of the national currency, I believe the Kazakh tenge is very stable. All the fundamentals of the national economy are well-balanced today: Vice Chairman of the Board at Samruk-Kazyna Sovereign Wealth Fund.

Given the oil prices, Kazakh economy has substantial strength reserve: Samruk Kazyna official
Hydrocarbons processing complex at Karachaganak oil and gas field. ©REUTERS
Government and KPO continuing negotiations on Karachaganak oilfield

Possibility and conditions for the Government to buy a stake in the project fully depend on commercial terms to be finalized during the negotiations: Oil and gas Ministry.

Government and KPO continuing negotiations on Karachaganak oilfield
©RIA Novosti
2011 January – July oil production figures

According to the Ministry of Oil and gas, production of crude oil and condensed gas in 2010 totaled 80 million tons, 4.2% up against 2009.

2011 January – July oil production figures
Legendary Larry King to come to Kazakhstan to moderate KAZENERGY Eurasian Forum

The event is organized by Association KAZENERGY that unites more than 50 major players in the oil, gas and energy business – extracting, transporting, servicing, geophysical, uranium-producing and other transnational companies.

Legendary Larry King to come to Kazakhstan to moderate KAZENERGY Eurasian Forum
KazMunayGas building in Astana. Photo courtesy of astana.kz
KazMunayGas National Oil and Gas Company obtains a syndicated loan worth $1 billion

The agreement was signed July 15.

KazMunayGas National Oil and Gas Company obtains a syndicated loan worth $1 billion
Paul Murphy. Photo courtesy of electronicintifada.net
Foreign Ministry finds it inadmissible for representatives of the European Parliament to intervene in the internal affairs of sovereign Kazakhstan

Nor do we find admissible any actions provoking political instability and public unrest: Foreign Ministry spokesman Ilyas Omarov.

Foreign Ministry finds it inadmissible for representatives of the European Parliament to intervene in the internal affairs of sovereign Kazakhstan
Kazakhstan’s Government sets higher export duty on petroleum products

Exports duty on crude remains at $ 40 per ton.

Kazakhstan’s Government sets higher export duty on petroleum products
©RIA Novosti
KazMunaiGas EP annual oil production output may fall 6% due to industrial action

According to the Company, production output is currently 366 000 tons of oil behind the schedule.

KazMunaiGas EP annual oil production output may fall 6% due to industrial action
Kazakh oilman sampling oil. ©REUTERS
Export of Kazakhstan’s oil to Belarus impossible without Russia’s consent

We purchase only gasoil and residual oil. Not yet crude oil: Belarus Ambassador to Kazakhstan Valery Brylev.

Export of Kazakhstan’s oil to Belarus impossible without Russia’s consent
Medvedev signed a law to cooperate with Kazakhstan in oil deliveries

President of Russia signed several laws regulating cooperation with Kazakhstan within the Common Economic Space.

Medvedev signed a law to cooperate with Kazakhstan in oil deliveries
Oil-producing platform in the Caspian Sea. ©RIA Novosti
Kazakstan to be able to meet its fuel needs by 2015

Massimov said that modernization of existing oil-processing plants will finish not later than January 1, 2015.

Kazakstan to be able to meet its fuel needs by 2015
Karim Massimov meeting Dato' Shamsul Azhar Abbas. flickr.com
Kazakhstan’s PM Karim Massimov meets Dato' Shamsul Azhar Abbas, Malaysia’s Petronas President and CEO

The sides dwelt on bilateral cooperation to implement joint O&G projects.

Kazakhstan’s PM Karim Massimov meets Dato' Shamsul Azhar Abbas, Malaysia’s Petronas President and CEO
Photo by RIA Novosti©
H1 2011 KazMunaiGas EP oil production output 3% down

The Company cited inclement weather conditions and protests at Ozenmunaigas as the main reasons behind the production drop.

H1 2011 KazMunaiGas EP oil production output 3% down
©RIA Novosti
Project to expand Caspian Pipeline Consortium pipeline capacity launched in Kazakhstan

Following the modernization project, the carrying capacity of the pipeline linking the Kazakh Tengiz oilfield with the Russian Black Sea port in Novorossiysk will make up 67 million tons of crude per year.

Project to expand Caspian Pipeline Consortium pipeline capacity launched in Kazakhstan
Pavlodar oil refinery. Photo courtesy of pnhz.kz
Pavlodar oil refinery to be suspended for repairs June 25

Pavlodar refinery is capable of producing 7.5 million tons of oil a year. The facility was constructed in 1978 and is currently owned by Refinary Company RT (KazMunaiGas subsidiary) (58%) and Samruk-Kazyna Sovereign Wealth Fund (42%).

Pavlodar oil refinery to be suspended for repairs June 25