Director General: Corridor of oil prices at $60-80 per barrel is acceptable to KMG E&P
Azerbaijan, Baku, June 2 / Trend, S.Suleymanov /
JSC Exploration and Production KazMunaiGas (KMG E&P) does not expect a sharp drop in oil prices in 2010, KMG E&P director general Kenzhebek Ibrashev said. "We do not expect a sharp drop and a sharp rise in oil prices in 2010. Price range between 60 and 80 dollars per barrel is acceptable to us," Ibrashev said.
He stressed that the company hopes that in 2010 oil prices will tend to $ 80 per barrel. "And as the budget for 2010 is made at a price of $50 per barrel, we will review it at a price of $ 65 per barrel", Ibrashev said.
He noted that too high prices for raw materials are not particularly attractive for the company. "We do not want also very low prices, this is understandable, but too high prices also - as after the rise in oil prices, prices of materials, goods and services rise dramatically. And so the corridor, which exists and which we forecast is sufficient for us," Ibrashev said.