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Vitaly Churkin, Russia's permanent representative to the UN. ©RIA Novosti
UN Security Council aims to dry up IS group financing

The UN Security Council plans to adopt a resolution next week aimed at halting funding to Islamic State militants from oil, antique trafficking and ransoms.

UN Security Council aims to dry up IS group financing
Chinese expansion in Kazakhstan's energy field?

China has been increasing its presence in the oil and gas sector of Kazakhstan. There is no consensus on whether this is a positive or a worrying development.

Chinese expansion in Kazakhstan's energy field?
Photo courtesy of uzdunyo.keo.su
Kazakhstan thinking of reducing crude export duty rate

Starting from April 1, 2014 the crude export duty rate was raised from $60 to $80 per ton of crude.

Kazakhstan thinking of reducing crude export duty rate
Total chief says to slash exploration outlays by nearly third

The chief executive of Total said the French oil company would slash spending on exploration by 30 percent this year due to the drop in the price of oil.

Total chief says to slash exploration outlays by nearly third
Obama clash looms after Senate passes Keystone

The US Senate approved a bill authorizing construction of the controversial Keystone XL oil pipeline from Canada to the United States.

Obama clash looms after Senate passes Keystone
Energy Minister Vladimir Shkolnik
Kazakhstan’s Energy Minister refutes sales of oil refinery by his son

To my best knowledge, he hasn’t been buying or selling anything in the last three years”, the Minister told journalists on the sidelines of the sitting in the country’s Majilis (lower chamber).

Kazakhstan’s Energy Minister refutes sales of oil refinery by his son
Photo courtesy of autocentre.ua
Russia's cheap gas may shut down Kazakhstani oil refineries: Minister of Energy

Cheap gas from Russia can put a stop to the work of Kazakhstan’s oil refineries.

Russia's cheap gas may shut down Kazakhstani oil refineries: Minister of Energy
©argumentua.com
Kazakh budget revised amidst dropping oil prices

Kazakhstan is revising its budget because of the falling global oil prices.

Kazakh budget revised amidst dropping oil prices
Photo courtesy of kmg.kz.
Board of Directors of KazMunaiGas EP changes

The Board of Directors of KazMunaiGas Exploration and Production (KMG EP) has changed following the extraordinary general meeting of its shareholders.

Board of Directors of KazMunaiGas EP changes
Photo courtesy of Tumba.kz
Oil wastes burn in Kazakhstan's West

Oil wastes were burning in one of Aktaus' industrial zones in Kazakhstan's West.

Oil wastes burn in Kazakhstan's West
Venezuela's Maduro in Iran for oil talks

Venezuelan President Nicolas Maduro arrived in Tehran for a 24-hour visit during which he will meet officials from fellow OPEC member Iran.

Venezuela's Maduro in Iran for oil talks
File photo. ©Tengrinews
Development Bank of Kazakhstan funds modernization of Pavlodar Oil Refinery

Pavlodar Oil Refinery will receive funding from Development Bank of Kazakhstan (DBK) amounting to $1.2 billion.

Development Bank of Kazakhstan funds modernization of Pavlodar Oil Refinery
Photo courtesy of m-astana.kz
Pipeline havoc at Kashagan: no losses for Kazakhstan, no refund for NCOC

Production at Kashagan field remains halted for an unspecified time; the need to replace pipes threatens the future of the oil project.

Pipeline havoc at Kashagan: no losses for Kazakhstan, no refund for NCOC
Photo © Kazinform
Attract transnational corporations to build new processing plants: Nazarbayev

President of Kazakhstan Nursultan Nazarbayev has instructed Kazakh officials to attract large transnational corporations during a nationwide teleconference dedicated to the Day of Industrialization.

Attract transnational corporations to build new processing plants: Nazarbayev
Tengrinews file photo
KazMunaiGas subsidiary to produce 12 million tons of oil in 2015

The subsidiary of Kazmunaigas, KazMunayGas Exploration and Production plans to produce 12 million tons of oil in 2015.

KazMunaiGas subsidiary to produce 12 million tons of oil in 2015
A sign that reads "Prohibited area! No entry!" hangs on a barbed wire fence outside an area of Tuapse oil refinery in the Russian Black Sea coastal town of Tuapse. ©Reuters
Russia battles to contain Black Sea oil spill

A Russian Black Sea city declared a state of emergency after a burst pipeline spewed oil into the landlocked water body.

Russia battles to contain Black Sea oil spill
Turar Kazangapov ©
Kazakhstan’s President on plans to construct a 4th oil refinery

Back in the autumn 2014 the country’s Energy Ministry announced that a decision had been taken to build up the processing capabilities of the Shymkent-based oil refinery rather than have a 4th refinery constructed.

Kazakhstan’s President on plans to construct a 4th oil refinery
OPEC won't cut output even at $20 a barrel: Saudi

OPEC will not cut oil production even if the price drops to $20 a barrel and it is unfair to expect the cartel to reduce output if non-members do not.

OPEC won't cut output even at $20 a barrel: Saudi
Photo © RIA Novosti
Kazakh National Fund grows despite drop in oil prices: Minister of Finance

Despite the drop in oil prices, Kazakhstan’s National Fund continues to grow.

Kazakh National Fund grows despite drop in oil prices: Minister of Finance
Brazil's Petrobras graft scandal embroils 28 more politicians

The main accuser in the corruption scandal that has embroiled Brazil oil giant Petrobras gave a list of 28 politicians who had taken kickbacks.

Brazil's Petrobras graft scandal embroils 28 more politicians