Oil and Gas Sector

31.03.2020

Kazakh budget loses heavily due to falling oil prices

The decline in oil prices on the world market will negatively affect Kazakhstan's income. In January alone, oil and gas sales decreased by $900 million. At prices below $25 per barrel, export customs duties will cease to flow at all.

Oil prices have been declining since the beginning of the year....

The decline in oil prices on the world market will negatively affect Kazakhstan's income. In January alone, oil and gas sales decreased by $900 million. At prices below $25 per barrel, export customs duties will cease to flow at all.

Oil prices have been declining since the beginning of the year....

31.03.2020

What cheap oil and coronavirus does with the economy of Kazakhstan

Kazakhstan's GDP in 2020 may not show growth or even decline. Such forecasts were made by economists. According to the managing director of the Centre for Applied Economics Research Olzhas Tuleuov, the country's economic growth rate in 2020 will be minimal since 1998.

“According to updated estimates of our centre, Kazakhstan’s...

Kazakhstan's GDP in 2020 may not show growth or even decline. Such forecasts were made by economists. According to the managing director of the Centre for Applied Economics Research Olzhas Tuleuov, the country's economic growth rate in 2020 will be minimal since 1998.

“According to updated estimates of our centre, Kazakhstan’s...

31.03.2020

Kazakhstan exempts gasoline and diesel fuel producers for export from excise taxes

In Kazakhstan, producers of gasoline and diesel fuel sold for export are exempt from excise taxes until December 31, 2020. This was stated in Government Decree of March 27, 2020.

In accordance with Presidential Decree, on further measures to stabilise the economy, the Government decides:

1. For the period until October 1,...

In Kazakhstan, producers of gasoline and diesel fuel sold for export are exempt from excise taxes until December 31, 2020. This was stated in Government Decree of March 27, 2020.

In accordance with Presidential Decree, on further measures to stabilise the economy, the Government decides:

1. For the period until October 1,...

31.03.2020

US EIA decreases previously forecast oil extraction volume in Kazakhstan for 2020

Kazakhstan will produce 2.02 million barrels of oil and other liquids per day in 2020, according to the March Short-term Energy Outlook (STEO) of US Energy Information Administration (EIA).

According to the EIA’s forecasts, this figure decreased from 2.03 million barrels per day in the previous report.

"Kazakhstan has been producing 2.03 million, 1.85...

Kazakhstan will produce 2.02 million barrels of oil and other liquids per day in 2020, according to the March Short-term Energy Outlook (STEO) of US Energy Information Administration (EIA).

According to the EIA’s forecasts, this figure decreased from 2.03 million barrels per day in the previous report.

"Kazakhstan has been producing 2.03 million, 1.85...

31.03.2020

China's oil giant reports higher revenue, lower profits in 2019

PetroChina, China's largest oil and gas producer, reported expansion in revenue in 2019, while its net profit saw a remarkable drop due to the slowing global economic growth and unrest in the international oil market.

Revenue rose 6 percent year-on-year to 2.52 trillion yuan ($355.22 billion), according to the company's annual...

PetroChina, China's largest oil and gas producer, reported expansion in revenue in 2019, while its net profit saw a remarkable drop due to the slowing global economic growth and unrest in the international oil market.

Revenue rose 6 percent year-on-year to 2.52 trillion yuan ($355.22 billion), according to the company's annual...


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