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Development Bank of Kazakhstan funds wind energy farm to open in 2019

The Development Bank of Kazakhstan (DBK) is financing CATEC Green Energy’s construction of a wind power plant near the capital. The initial section, with a capacity of 50 megawatts, will be completed by mid-2019. “The wind farm construction will contribute to the fulfilment of Kazakhstan’s...

Crude oil piped from Kazakhstan to China reaches record high

Crude oil imports from Kazakhstan to China through a transnational pipeline hit a new record high last year, PetroChina West Pipeline Company said on January,11. The China-Kazakhstan pipeline carried 12.3 million tonnes of crude oil into the world's second-largest economy in 2017, up 23.2 percent...

KazMunayGas rating affirmed at ‘BB-‘; outlook stable

S&P Global Ratings said that it has affirmed its ‘BB-‘ long-term corporate credit rating on Kazakhstan’s 100% state-controlled national oil company KazMunayGas NC JSC (KMG) and its core subsidiary KazMunaiGas Exploration Production JSC (KMGEP). The outlooks are stable. S&P...

Bonatti secures Area 51 Pipelines contract in Kazakhstan

Bonatti has secured the Area 51 Pipelines contract from Tengizchevroil (TCO) for the FGP-WPMP project in Kazakhstan. This contract will help create a new collecting system for the transport of fluids from Tengiz and Korolev reservoirs to the new FGP processing facilities. Under the contract, Bonatti’s...

Mangistau region launches eco-green city project, advances energy solutions

A unique eco-green city worth $2.1 billion will be constructed in Aktau, according to the Mangistau region’s press service. The Mangistau region akimat (local executive body) signed an agreement on the construction and financing of the project with Global Project Capital Ltd, AAG Corporate...

Kazakhstan produced record amount of oil in 2017

In 2017, Kazakhstan produced 86.2 million tons of oil, which is a record indicator for the entire history of the country's independence. This was stated at a briefing in the Government by Minister of National Economy Timur Suleimenov. "This volume of oil production helped us to achieve 4% growth...

Green energy to satisfy electricity demand in East Kazakhstan

Solar installations, wind generators and a hydroelectric power station will be launched this year in the East Kazakhstan region. “These projects are implemented to develop the green economy, one of the main aspects of EXPO 2017. The idea of constructing such power stations is particularly relevant...

Prices of Kazakhstan oil and gas producers increased significantly in 2017

On average, producer prices increased by 17.6% in 2017, the press service of the Statistics Committee of the Ministry of National Economy of the Republic of Kazakhstan reports. Prices in 2017 for natural gas increased significantly by 51.7% and for oil 31.6%. Since the beginning of last year, fuel...

Kazakhstan retakes major position in regional oil production: OPEC

The FSU’s oil supply is estimated to have grown by 0.20 mb/d in 2017 to average 14.06 mb/d, revised up by 0.03 mb/d due to higher-than-expected output in 4Q17. Total FSU liquids production in November increased by 0.13 mb/d to average 14.10 mb/d, mainly due to Kazakh oil output returning from...

LPG price up in Kazakhstan

In Kazakhstan, from January 1, 2018, the maximum wholesale price for liquefied petroleum gas (LPG) has grown from 34,319 tenge to 38,701 tenge, Kazpravda.kz reports. "In Kazakhstan, from January 1, 2018, the maximum wholesale price for LPG has been increased from KZT34,319 to KZT38,701 per ton without...

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