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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...

Oil retreats after hitting 2015 highs

Oil prices fell on Friday, dropping from highs last seen in 2015, as soaring U.S. production undermined a 10 percent rally from December lows that were driven by tightening supply and political tensions in OPEC member Iran. US West Texas Intermediate (WTI) crude futures were at $61.40 a barrel by...

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...

Med Crude-Urals falls in north amid Forties return

Kazakhstan’s benchmark Russian Urals crude’s differentials fell in the Baltic on Friday after a brief upswing, as the return of North Sea Forties crude this week weighed on the grade that can be used as an alternative. The 3-week halt in Forties loadings due to the pipeline shutdown had...

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...

Caspian hydrocarbon projects and transport dreams under the eyeglass

The draft convention of the final agreement on the legal status of the Caspian Sea that was discussed in Moscow on December 5 implies, inter alia, construction of underwater pipelines. If accepted, a consensus from all littoral states to allow underwater construction will no longer be required, except...

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...

EEU countries still not agreed provisions on single oil and gas market

“As of December 2017, some provisions on the program for the formation of a single oil and gas market of the Eurasian Economic Union of a fundamental nature remained unagreed,” a review of the results of Belarus’ foreign policy for 2017, published on the website of the Foreign Affairs...

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...

About 14,000 tons of benzene exported from Atyrau refinery

The Atyrau oil refinery became the first in Kazakhstan to supply benzene - a raw material for petrochemicals - for export, Kazinform reported. “In the past 2017, as many as 8,951 tons of benzene or 104 percent of the planned amount was produced. Since the beginning of the production of benzene,...

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