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Lukoil stationary oil platform in the Caspian Sea. ©RIA Novosti
Lukoil disappointed in Kazakhstan oil fields

Lukoil might decide to close two projects in Kazakhstan sector of the Caspian Sea by the end of the financial year.

Lukoil disappointed in Kazakhstan oil fields
Nursultan Nazarbayev.© Maksim Popov
Nazarbayev suggests an International Energy Organization coordinate extraction and distribution of all energy resources

According to him, the International Energy Agency is only defending interests of countries importing oil and gas.

Nazarbayev suggests an International Energy Organization coordinate extraction and distribution of all energy resources
Photo courtesy of kpo.kz
Karachaganak Petroleum Operating (KPO) agrees to sell 10% in Karachaganak to Kazakhstan

Consortium participants have submitted to the Government a draft memorandum outlining the agreement.

Karachaganak Petroleum Operating (KPO) agrees to sell 10% in Karachaganak to Kazakhstan
Oil companies may be obliged to invest into beluga sturgeon breeding projects at the Caspian: Environment Minister Nurgali Ashim

Populations of beluga sturgeon have declined by nearly 90% in recent decades due to the high demand for black caviar, inadequate management, and habitat degradation.

Oil companies may be obliged to invest into beluga sturgeon breeding projects at the Caspian: Environment Minister Nurgali Ashim
Sauat Mynbayev. Photo courtesy of focus.kz
No further licensing of minor oil refineries: Minister of Oil and Gas Sauat Mynbayev

According to the Minister, there are a total of 35 oil refineries: 3 large-scaled ones and 32 minor facilities.

No further licensing of minor oil refineries: Minister of Oil and Gas Sauat Mynbayev
Kairgeldy Kabyldin
KazMunaiGas to boost financing of innovation projects 100 times by 2015

Currently we spend about $0.68 million on R&D. We plan to increase the figure almost 100 times by 2015: Company’s Head Kairgeldy Kabyldin.

KazMunaiGas to boost financing of innovation projects 100 times by 2015
Photo by RIA Novosti©
Crude oil production output in January – May 2.5% up

Crude oil production of the period under review made up 28.2 million tons.

Crude oil production output in January – May 2.5% up
Massive oil lake appeared in Aktobe

An oil lake appeared in the city of Aktobe. It may burst into flame any moment.

Massive oil lake appeared in Aktobe
Kazakhstan and Russia to benefit from OPEC break-up

Organization of Petroleum Exporting Countries OPEC is about to fall apart.

Kazakhstan and Russia to benefit from OPEC break-up
Fuel shortages in Kazakhstan to be resolved by 2015

The problem of fuel deficiency in Kazakhstan will be solved after implementation of the Complex plan of oil refineries development in 2009-2015.

Fuel shortages in Kazakhstan to be resolved by 2015
Malaysia’s oil and gas company Petronas to enter Kazakhstan

According to the Malaysia’s PM, the agreement is on mutually beneficial conditions.

Malaysia’s oil and gas company Petronas to enter Kazakhstan
Kairgeldy Kabyldin
KazMunaiGas Chairman of the Board Kairgeldy Kabyldin reports to President Nazarbayev on the Company’s progress

He also briefed the President on the Company’s plans for the year and prospects of development up to 2020.

KazMunaiGas Chairman of the Board Kairgeldy Kabyldin reports to President Nazarbayev on the Company’s progress
RIA Novosti©
Ministry of Oil and Gas sets retail price ceiling for fuel

The Ministry’s press service reports that Kazakhstan will keep on regulating retail prices at the country’s pumps even after July 1, 2011 when customs barriers between the Customs Union member states are removed.

Ministry of Oil and Gas sets retail price ceiling for fuel
Minister of Oil and Gas Sauat Mynbayev
Royal Dutch Shell to be able to get back to Kazakhstan: Minister of Oil and Gas Sauat Mynbayev

His comments followed the decision of the energy giant Royal Dutch Shell to close its offices in Kazakhstan on May 30, after laying off its staff.

Royal Dutch Shell to be able to get back to Kazakhstan: Minister of Oil and Gas Sauat Mynbayev
Oraz Dzhandossov. Photo by Yaroslav Radlovsky©
Dzhandossov: Oil production ceiling should be set

Renowned Kazakhstan economist Oraz Dzhandossov suggested the Government to “set a ceiling limiting oil production."

Dzhandossov: Oil production ceiling should be set
Sauat Mynbayev. Photo courtesy of focus.kz
Minister of Oil and Gas Sauat Mynbayev does not find it necessary to raise export duty on oil

Export duty on oil in Kazakhstan has been $40 per ton since January 1, 2010.

Minister of Oil and Gas Sauat Mynbayev does not find it necessary to raise export duty on oil
©RIA Novosti
KazMunaiGas may transfer its share in Kashagan to KazMunaiGas EP

KazMunaiGas national Oil Company does not rule out transferring its share in Kashagan to its subsidiary KazMunaiGas EP, KMG President Kairgeldy Kabyldin said in Almaty May 26.

KazMunaiGas may transfer its share in Kashagan to KazMunaiGas EP
Timur Kulibayev. ©Yaroslav Radlovsky
Implementation of most of the current oil and gas projects will bring Kazakhstan into the top five oil producers: Timur Kulibayev

Before the end of this decade the annual volume of oil and gas supplies from the CIS to the global markets can grow 1.5 times against 2010, he said when speaking at the XI CIS oil and gas summit in Paris May 25.

Implementation of most of the current oil and gas projects will bring Kazakhstan into the top five oil producers: Timur Kulibayev
©Ria Novosti
Kazakhstan and Belarus to agree on oil supplies

We are very much interested. This will enable us to diversify oil supplies: President Alexandr Lukashenko.

Kazakhstan and Belarus to agree on oil supplies
Karim Massimov
Kazakhstan to join the Karachaganak project: Kazakhstan’s Prime Minister Karim Massimov

The negotiations with the project participants are to be completed before the end of the year.

Kazakhstan to join the Karachaganak project: Kazakhstan’s Prime Minister Karim Massimov