BAKU, Azerbaijan, July 15. Crude oil production, including oil derived from bituminous minerals, increased s from January through May 2022, Trend reports via Energyprom.kz.
This figure amounted to 31.9 million ton, up 5.5 percent on annual basis.
According to Kazakhstan’s Energy Ministry, during a ministerial meeting of the countries participating in the OPEC + agreement held as a video conference in late June, it was decided to continue increasing the current level of production by OPEC + countries for August - by 648,000 barrels per day. Kazakhstan's obligations for August will amount to 1.7 million barrels per day.
Almost all crude oil produced in Kazakhstan was exported. From January through April 2022, 25.3 million tons were produced, of which 24.4 million tons were exported, up by 12.2 percent compared to the same period last year. At the same time, the volume of sales in the domestic market decreased by more than two times, to one million tons.
From January through May this year, 30.2 million tons of crude oil and crude petrochemicals obtained from bituminous minerals were exported, which is 12.1 percent more compared to 5M2021. Some 8.3 million tons of them were shipped to Italy, 3.3 million tons to the Netherlands, 2.5 million tons to South Korea and 2.2 million tons to China.
Meanwhile, export prices for deliveries of crude oil and crude petrochemicals obtained from bituminous minerals increased by 58.4 percent in annual terms (compared to growth of 19.3 percent in 5M2021).