Kazakhstan increases oil export, petroleum goods production

Kazakhstan increases oil export, petroleum goods production

BAKU, Azerbaijan, Aug. 11

By Nargiz Sadikhova - Trend:

Kazakhstan has produced 51.5 million tons of oil and gas condensate during first seven months of 2020, which is 1.4 percent less compared to the same period of last year, Kazakhstan’s Minister of Energy Nurlan Nogayev said, Trend reports with reference to the press office of Kazakhstan’s prime minister.

“The reason for the failure to fulfill the production volume plan is as follows: the introduction of quarantine in many countries in order to prevent the coronavirus spread, decline in economic activity contributed to a faster increase in supply than demand for oil and oil products,” Nogayev noted.

Oil exports amounted to 42 million tons which is 0.4 percent more compared to the same period of 2019. Gas production amounted to 33.4 cubic meters during the reporting period, which is also 1 percent more compared to the same period of the last year.

Domestic consumption of natural gas amounted to 9.5 billion cubic meters, which is 2 percent more compared to the corresponding period of 2019.

Production of liquefied petroleum gas amounted to 1.8 million tons or 0.5 percent compared to the corresponding period of 2019. Of these, 938,000 tons were used in the domestic market.

Some 2.5 million tons of gasoline, 2.5 million tons of diesel fuel, 253,000 tons of aviation fuel, 1.1 million tons of fuel oil, 539,000 tons of bitumen were also produced during the reporting period of 2020, which indicates slight production growth.

The reason for the growth in the volume of oil products is the provision of deep oil refining as a result of the modernization of oil refineries. Kazakh market is fully provided with petroleum products of its own production.

The volume oil and gas chemical products output amounted to 248,000 tons, which is 61 percent more than the same period last year. The plan for 2020 is 400,000 tons.

During the reporting period, 61.5 billion kWh of electricity was also produced, which is 1.7 percent more compared to the corresponding period of 2019.

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Follow the author on twitter: @nargiz_sadikh

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