Oil and Gas Sector

22.09.2023

Monopolist company in Kazakhstan sets tariff for oil transportation 30 times higher than market

The issues of taking antimonopoly measures in the spheres of oil production and transportation, health care and operation of railway infrastructure were discussed at the Commission on demonopolisation of economy headed by the Prime Minister of Kazakhstan Alikhan Smailov.

Thus, considered the activities of a private company that owns an oil...

The issues of taking antimonopoly measures in the spheres of oil production and transportation, health care and operation of railway infrastructure were discussed at the Commission on demonopolisation of economy headed by the Prime Minister of Kazakhstan Alikhan Smailov.

Thus, considered the activities of a private company that owns an oil...

22.09.2023

Nostrum Oil pays multi-billion dollar fine for tax evasion in Kazakhstan

Oil and gas company Zhaikmunai, a subsidiary of Nostrum Oil & Gas Plc, paid KZT9bln of corporate income tax and value added tax, as well as a KZT2bln fine for understating CIT and VAT amounts in the previous few years, the West Kazakhstan Region Prosecutor's Office said.

"9 billion tenge of...

Oil and gas company Zhaikmunai, a subsidiary of Nostrum Oil & Gas Plc, paid KZT9bln of corporate income tax and value added tax, as well as a KZT2bln fine for understating CIT and VAT amounts in the previous few years, the West Kazakhstan Region Prosecutor's Office said.

"9 billion tenge of...

22.09.2023

Brent dips just below $93/b as economy slump matches supply limits

Oil prices fell on Thursday, after posting the largest decline in a month in the previous session, as U.S. interest rate hike expectations offset the impact of drawdowns in U.S. crude stockpiles.

Brent futures for November delivery were down 97 cents, or 1.04%, to $92.56 a barrel by 0809 GMT. U.S....

Oil prices fell on Thursday, after posting the largest decline in a month in the previous session, as U.S. interest rate hike expectations offset the impact of drawdowns in U.S. crude stockpiles.

Brent futures for November delivery were down 97 cents, or 1.04%, to $92.56 a barrel by 0809 GMT. U.S....

22.09.2023

Norwegian supplies and solid reserves subdue natural gas benchmarks

Dutch and British gas prices fell on Thursday morning on high gas storage, increase in Norwegian nominations and positive signs that Chevron and union workers may reach a deal to end strikes in Australia.

The Dutch October contract was down 0.80 euro to 36.55 euro per megawatt hour (MWh) at 0845 GMT,...

Dutch and British gas prices fell on Thursday morning on high gas storage, increase in Norwegian nominations and positive signs that Chevron and union workers may reach a deal to end strikes in Australia.

The Dutch October contract was down 0.80 euro to 36.55 euro per megawatt hour (MWh) at 0845 GMT,...

21.09.2023

Caspian Pipeline Consortium increases oil shipment by 9.2%

"The Caspian Pipeline Consortium (CPC) increased shipments from the beginning of this year to mid-September to 45.3 million tonnes of oil, up 9.2% from the same period in 2022," the CPC said.

"The consortium has significantly increased oil transport volumes compared to last year. In mid-September 2023, 45.3 million tonnes were...

"The Caspian Pipeline Consortium (CPC) increased shipments from the beginning of this year to mid-September to 45.3 million tonnes of oil, up 9.2% from the same period in 2022," the CPC said.

"The consortium has significantly increased oil transport volumes compared to last year. In mid-September 2023, 45.3 million tonnes were...


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