NEWS
Kazakhstan - August 20, 2014
Tethys Petroleum increased its revenue to $7.1 million in the second quarter of 2014 from $6.8 million in the first quarter amid the public company’s promising…
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Kazakhstan Overview
in figures
Oil Reserves30 billion barrels
Oil Production1,81 millon bopd
Gas Reserves2.3 tcm
Gas Production32 bcm
Kazakhstan: Refine and Expand
Kazakhstan holds an estimated 30 billion barrels of oil reserves, along with 1.1 tcm (38.8 tcf) of natural gas. It is among the top 15 countries based on the size of its oil reserves. The majority of Kazakhstan’s hydrocarbons reserves are located in the regions of Kashagan, Tengiz and Karachaganak.
To reach its potential as a global energy player, Kazakhstan is working to maintain a fine balance between the economic interests of its two powerful neighbours, Russia and China. Chinese energy demand continues to surge upwards and will consume Kazakhstan’s robust hydrocarbons output for the foreseeable future.
NEWS
Multinational - March 04, 2024
Several OPEC+ members have extended voluntary oil production cuts of 2.2 million bpd into Q2 2024.
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NEWS
Uzbekistan - February 02, 2024
Condor Energies has signed a deal to take over eight producing gas-condensate fields in Uzbekistan.
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NEWS
Saudi Arabia - January 30, 2024
Saudi Aramco has received orders from the government to set its maximum sustainable capacity to 12 million bpd.
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NEWS
Multinational - January 18, 2024
Both OPEC and the International Energy Agency (IEA) have forecast a rise in global oil consumption in 2024, Reuters reported on Thursday.
The IEA has raised its…
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Interview
- December 13, 2023
Huseyn Tarek, regional president of INTECH Process Automation, talks to The Energy Year about digitalisation in industrial plant management, how automation systems…
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NEWS
Multinational - December 01, 2023
OPEC+ members have agreed to oil production cuts totaling 2.2 million bopd for early 2024, the oil and gas organisation announced on Thursday.
The cuts are being…
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NEWS
Kazakhstan - August 13, 2014
Minister of Oil and Gas Uzakbay Karabalin was replaced by Vladimir Shkolnik during a cabinet reshuffle by President Nursultan Nazarbayev on Wednesday.
The…
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NEWS
Kazakhstan - July 23, 2014
Four people were injured on Wednesday, when an explosion at a refinery belonging to Vernal Oil Kazakhstan occurred. A government representative of Mugalzhar District…
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NEWS
Kazakhstan - July 16, 2014
The UK’s Roxi Petroleum has found oil and gas with its first well on its BNG contract area in Kazakhstan, 40 kilometres south of the Tengiz field in the Mangistau…
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Kazakhstan - July 09, 2014
On Wednesday, July 2, Tethys Petroleum announced positive test results from its shallow gas exploration wells AKK17, AKK18, AKK19 and AKK20. The Akkulka fields in the…
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NEWS
Kazakhstan - July 02, 2014
The intergovernmental agreement to transport Russian oil to China via Kazakhstan’s main pipelines was ratified last week. According to the agreement, approximately 7…
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NEWS
Kazakhstan - June 25, 2014
Oil and Gas Minister Uzakbay Karabalin on Wednesday confirmed that production from the offshore Kashagan oilfield in the northern Caspian Sea would restart by the end…
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NEWS
Kazakhstan - June 18, 2014
Eni and Kazakhstan’s state-owned company, KazMunayGas (KMG), entered a joint agreement on June 12 to explore the potential for oil in the northern Caspian Sea’s…
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