News about Oil

New CEO appointed at Kazmunaigas EP Kurmangazy Iskaziev has been appointed the new General Director (CEO) of the Kazmunaigas Exploration and Production

29 September 2015 19:28

Clinton stands against controversial Keystone pipeline After declining for months to announce her position on a major Canada-to-US oil pipeline, Democratic presidential hopeful Hillary Clinton said Tuesday that she is opposed to the controversial project.

23 September 2015 14:11

CEO of KazMunayGas Exploration Production resigns General Director of KazMunayGas Exploration Production JSC (KMG EP) Abat Nurseitov has resigned from his post.

10 September 2015 17:57

Kazakhstan still planning to resume production at Kashagan late 2016 Kashagan oil project in the Caspian offshore will be economically viable with oil rices standing at $100 per barrel, a Tengrinews.kz journalist reported earlier, citing Sauat Mynbayev, KazMunaiGas Chairman of the Board.

09 September 2015 16:06

Petrol follows tenge in free float: Kazakhstan government stops regulating prices After the announcement that Kazakhstan governoment was stopping price regulation for petrol, prices spiked throughout Kazakhstan.

05 September 2015 23:42

Oil prices will continue falling: Kazakh economist Kazakhstani economist Vladimir Telnov predicts that global oil prices will continue falling in the next 5 to 15 years.

26 August 2015 21:06

Nazarbayev urges exporters to sell dollars at home After the devaluation of the Kazakh national currency tenge, Kazakhstan president asked exporters to sell dollars at the domestic market.

24 August 2015 19:11

Russia’s LUKOIL sells 50% in Caspian Investments Resources Ltd. to China’s Sinoptec Caspian Investments Resources Ltd. is developing five oil field in Kazakhstan, notably Alibekmola, Kozhassai in Aktyubinsk oblast, Karakuduk, Severny Buzachi and Arman in Mangistau oblast.

21 August 2015 13:32

Mass axing of oil worker taking place in Aktobe Kazakh-Chinese oil company Velikaya Stena in Aktobe in Kazakhstan's west is laying off many workers.

13 August 2015 18:34

Karachaganak Petroleum Operating fined for improper storage of waste Karachaganak Petroleum Operating has been fined for improper storage of 64.22 tons of liquid waste at Karachaganak field.

13 August 2015 17:28

'Chemical attack' descends upon Atyrau Excess hydrogen sulfide emissions in Atyrau in western Kazakhstan cause headaches and suffocation among residents.

06 August 2015 18:59

Next oil refinery in Kazakhstan to be built together with Iran Deputy Akim of Kazakhstan's Mangistau Oblast declared that the fourth oil refinery in Kazakhstan would be built in cooperation with Iran.

21 July 2015 19:03

Experts comment on Kazakh National Bank expanding tenge-dollar pegged corridor Experts comment on the latest expansion of the tenge to dollar exchange rate pegged corridor in Kazakhstan.

16 July 2015 21:24

Kazakhstan in 10 World’s Worst Performers in Economy: Bloomberg Kazakhstan ended up in the 10 World’s Worst Performers in Economy compiled by Bloomberg.

14 July 2015 05:09

KazMunayGas to sell half of its Kashagan share to Samruk-Kazyna KazMunayGas JCS (KMG) is selling 50% of the company’s share in Kashagan to the National Welfare Fund Samruk-Kazyna of Kazakhstan for almost $4.7 billion.

03 July 2015 14:52

Brazil's Petrobras slashes multi-year investment plan Brazil's state oil giant Petrobras slashed its five-year investment plan by a whopping 77 billion dollars -- as it tries to recover from a massive corruption scandal.

30 June 2015 11:08

Kazakhstan will not be compensating for expenses to replace pipes at Kashagan: Prime Minister Commercial production at Kashagan started September 11, 2013. However, it was suspended 2 weeks later due to a gas leakage. The production process was resumed shortly. However, another leakage was detected in October.

17 June 2015 13:13

OPEC unlikely to lose oil influence to US shale: analysts OPEC's announcement that it is keeping crude output levels unchanged again, despite a collapse in oil prices, reflects the growing influence of booming US shale.

07 June 2015 14:10

OPEC expected to keep status quo on oil output OPEC ministers gather for an eagerly awaited meeting which is widely expected to leave its output levels unchanged, despite the recent oil price collapse and global oversupply.

05 June 2015 13:47

Venezuela seeks allies outside OPEC to steady oil prices Latin American crude producer Venezuela, struggling to cope with sharply lower oil prices, is seeking support outside OPEC to stabilise the market.

03 June 2015 15:07

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