Kazakhstan achieves biggest oil extraction in its history

11/02/2019 11:28 Oil Market


Kazakhstan achieved the biggest oil production in its history during 2018, with 90 million tons, governmental sources said on February 8. In 2017, crude oil output amounted to 86.2 million tons.

Kazakh Energy Minister Kanat Bozumbayev reported that the oil extraction in 2018 represented an increase of nearly 4 percentual points in relation to the established plans last year, due to the extraction in 3 fundamental places: the wells in Kashagan, Tengiz and Karachaganak.


According to official reports, oil exports in 2018 represented more than 80 % of the country's total production with 72.5 million tons.


Likewise, gas production in Kazakhstan exceeded 55 billion m3 at the end of last year, and exported around 20 billion, with China as its most important destination.


Daily (13.02.2019): EU carbon prices fell by over 7% to hit a new 2019 low

13/02/2019 11:49:00

Oil prices reversed trend to hike on Tuesday, stimulated by the steep OPEC supply cuts, led by Saudi Arabia’s biggest drop in pumping activity. Brent oil traded 1.5% higher at $62.42 a barrel, while WTI crude increased by 1.3% to $53.10 a barrel.


Europe agrees sales targets for ‘clean’ buses in cities

13/02/2019 08:39:00

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Shell to develop $10b Bonga field

13/02/2019 08:14:00

OIL giant Shell’s Bonga South West/Aparo (BSWA) deepwater project, located in Oil Mining Lease (OML) 118 in the Niger Delta, is set for development, it was learnt yesterday.