BAKU, Azerbaijan, Feb. 16
Trend:
It’s planned to produce nearly 87.5 million tons of oil in Kazakhstan this year, the country's Energy Minister Bolat Akchulakov said during a briefing at the Central Communications Service, Trend reports.
Akchulakov also commented on the price of Brent crude at $96 per barrel.
“If there are high oil prices, then both foreign exchange earnings and tax revenues grow. When oil prices are very high, this is also not very good for the industry because prices for all associated consumables like tubular products and chemicals, as well as everything related to the production process also start to grow,” he explained. “Unfortunately, when the price of oil falls, these consumables don’t always fall in the same dynamics as their prices. Oil companies are suffering because of this, since their economies are starting to slump significantly.”
In general, the limit of a comfortable corridor for oil prices for Kazakhstan is $80 per barrel, added the minister.