Business | Oil & Gas
Kazakhstan's crude exports will rise this year to 62.8m tonnes
Kazakhstan's crude oil exports are likely to rise slightly this year to 62.8 million tonnes, Deputy Energy Minister Lyazzat Kiinov said yesterday.
- Reuters
- Published: 00:31 October 9, 2008
Almaty: Kazakhstan's crude oil exports are likely to rise slightly this year to 62.8 million tonnes, Deputy Energy Minister Lyazzat Kiinov said yesterday.
Oil is the key to Central Asia's biggest economy, which seeks to raise production to about 100 million tonnes by 2015 as part of its ambition to join the ranks of some of the world's biggest crude producing nations.
Speaking at an annual energy conference, Kiinov said oil production next year would edge up to 70 million tonnes from this year's planned 67 to 70 million tonnes. Exports were 60.8 million tonnes last year.
The resource-rich Caspian nation, eyed by Europe as an alternative new source of energy, plans to raise natural gas production to 42.6 billion cubic metres in 2010 from 30 billion now, Kiinov said.
Giant reserves
Furthermore, Kazakhstan is determined to start commercial output at the giant Kashagan oilfield in 2013, a senior official said yesterday, but a Western consortium developing the project said it may start earlier.
Kazakhstan and the ENI-led group are due to map out an amended Kashagan deal by October 25 after more than a year of tense talks on the future of the long-delayed project.
Share this article
Popular in Business
-
General
Precious jump
Gold prices at new high as India's central bank buys $6.7b worth of gold
Business Editor's choice
-
UAE companies in full force at WTM
Seventy-eight participants are from Dubai and 50 from Abu Dhabi
-
DIFC committed to high standards
Ensures an efficient process to serve the business community
-
Sweet life in the Middle East
A sweet look at the confectionary industry in the UAE and Middle East
