Kazakhstan sees rise in oil output
Baku, Azerbaijan, Nov. 14
By Nigar Guliyeva - Trend:
The volume of oil production in Kazakhstan in January-October 2017 amounted to 60.172 million tons, which is 12 percent more than for the same period in 2016, the Committee on Statistics of the Kazakh National Economy Ministry reported.
During the reporting period, gas condensate was produced in the amount of 10.984 million tons (showing an increase of 8.1 percent compared to the same period of 2016), natural gas - 43.478 billion cubic meters (14.6 percent), coal - 90.312 million tons (11.1 percent), copper ore - 81.15 million tons (24.7 percent), gold ore - 16.222 million tons (4.4 percent), chrome concentrate - 3.771 million tons (9 percent).
Gasoline output in January-October 2017 amounted to 2,550 million tons, which is 7.1 percent more compared to the same period of 2016.
In December 2016, Kazakhstan, supporting the OPEC initiative to reduce oil production, agreed to reduce the volume of oil production in the first half of 2017.
Later in May 2017, Kazakhstan joined the agreement on the extension for another nine months of the period of the contract on the reduction of oil production.
In 2017, the forecast for the export of oil from Kazakhstan is 67 million tons. For 2018, the figure is set at 69 million tons.