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Archive
#4 (142), September 2023
Expertise
Why it is Problematic for Investors to Take the Long View
Modern Kazakhstan is not merely a country abundant with natural resources and having the fastest growing economy. It is also the country where importance is being increasingly attached to investment climate. Amid global competition for capital, we see that Kazakhstan is striving to create a favourable environment for investors, whether they are multinationals or local businesses. The government investment policy pays off - we have witnessed a record flow of international direct investments to Kazakhstan, totalled US$ 28 billion in 2022, according to the RK Ministry of Economy.
Across the Caspian Sea. Can Kazakhstan Diversify its Export Flows?
In late March 2023, a tanker named Akademik Khoshbakht Yusifzade, belonging to the Azerbaijan Caspian Sea Shipping Company, docked in Baku from Aktau. It carried 6.9 thous. tons of oil from the Kashagan field. The shipper was one of the shareholders of the North Caspian Consortium – the Japanese company INPEX North Caspian Sea.
KAZAKHSTAN ENERGY WEEK – 2023
Chevron and Kazakhstan: 30 Years of Inspiring Partnership
Chevron proudly reflects on its 30-year history of partnership with the Republic of Kazakhstan. Throughout this period, this collaboration has acted as a catalyst for economic growth, job creation, support for Kazakhstami enterprises, local community development, and the pursuit of key sustainable development objectives.
Celebrating 30 Years of ExxonMobil’s Transformative Partnership with Kazakhstan
This year, ExxonMobil celebrates a momentous milestone - 30 years in Kazakhstan. This remarkable journey is not just a testament to corporate longevity; it signifies a deep-rooted and mutually beneficial partnership that has significantly contributed to Kazakhstan's economic development and energy landscape.
Its Undeniable… The Future for Tengiz Looks Promising
This year, as Tengizchevroil (TCO) marks its 30th anniversary since formation in 1993, the Tengiz field still ranks as the world’s deepest producing supergiant oil field and the largest single-trap producing reservoir in existence. The Tengiz and nearby Korolev field are prolific assets that have enabled Kazakhstan to become a major oil producer in the international markets and a key country on the global stage.
CPC:Prioritizing Safety Above All
In a year-end review, the Caspian Pipeline Consortium has set another milestone for safe operations, logging more than 17.1 mln man-hours without injuries or incidents among its staff and subcontractors. Additionally, the Consortium's vehicle fleet operated with zero registered road traffic accidents, exceeding 33.4 mln kilometers traveled.
Borusan Cat Kazakhstan. Component Rebuild Center in Atyrau
Borusan Cat Kazakhstan was founded in Almaty in June 1999 and is the official Cat® dealer in Kazakhstan.
Borusan Cat Kazakhstan is a part of a large Turkish conglomerate Borusan Group.
Being an official dealer of Caterpillar® brand machinery in Kazakhstan, as well as a customer-oriented company, Borusan Cat Kazakhstan provides its Customers not only with highly efficient and reliable equipment, but also with quality service.
VMP Astana Plant: A Kazakhstani Manufacturer with Global Quality Standards
Interview conducted by Petroleum with Mikhail Vakhrushev, President of the VMP Research & Production Holding
– Mr. Vakhrushev, last year, your holding company, VMP, inaugurated a paint and coatings manufacturing plant in Astana, Kazakhstan. The company has been a successful operator in Russia for many years. Can you share insights from your experience in the Russian market?
Steps to be Made for Kazakhstan Business to Adapt to a Tighter Carbon Regulation Environment
As part of Kazakhstan’s ratification of the Paris Agreement the government committed to a stronger global response to climate change impacts in the light of sustainable development. This commitment has become a key objective of the new environmental legislation and consideration of the need to launch tools to drive the country’s decarbonisation.
Oil Chronicles
Oil Chronicles. January - February 2023
January 11, Kazakhstan's Minister of Energy, Bolat Akchulakov, announced plans to supply 1.5 mln tons of oil to Germany via the Druzhba pipeline in 2023. KazTransOil JSC has received confirmation from the Russian Federation's Ministry of Energy to transport 300 thous. tons of Kazakstanih oil through Transneft's main pipeline system towards the Adamova Zastava oil delivery point for further supply to Germany in the first quarter of 2023. The oil transit will be carried out under an agreement between the governments of Kazakhstan and Russia dated June 7, 2002.
Oil Chronicles. March - April 2023
Starting March 1, Dmitry Makeev has been appointed as the Deputy Chairman of KazMunayGas, where he will oversee the oil refining and petrochemical sector. Since December 2019, Makeev held the position of Director of the Oil Refining and Petrochemicals Department at the national company. From 2005 to 2019, he worked at the Atyrau Refinery, progressing from an operator to the Managing Director for Technology.
Oil Chronicles. May 2023
From May 1, KazTransOil has increased its oil transportation tariffs for export by 2-3 times. The most significant hike was in the cost of loading oil into rail tank cars at the Kasymov oil pumping station in the Atyrau region: from 409.57 tenge per ton (excluding VAT) to 1,213.20 tenge per ton. The oil transshipment at the Shmanov PS to the Kenkiyak - Atyrau pipeline for export outside Kazakhstan has risen from 500 tenge to 1,000 tenge.
Markets
Petroleum Products Market: State of Competition and Monopoly Limitation
The Agency for Protection and Development of Competition of the Republic of Kazakhstan has conducted an analysis of competition in specific commodity markets and the measures taken to limit monopolistic activities for the year 2022. The final report has been submitted to the president and the prime minister of the country. The market analysis of wholesale and retail petroleum products encompasses specific types of petroleum products such as: RON 92 and RON 95 gasoline, aviation fuel, and diesel fuel.
The Benefits of a Hydrogen Industry in Kazakhstan
The prospects of hydrogen energy in Kazakhstan are mainly seen from an export-oriented perspective. There has been limited progress toward developing hydrogen-end use in Kazakhstan. However, there is a long-term vision on hydrogen end-use in the industry, transport and power sectors of Kazakhstan. Owing to the existing use of hydrogen in the chemical sector and refineries, these two were categorized as near-term end-use areas.
Legislation
Customs Risks for Importers of Goods for the Karachaganak Oil and Gas Field
The Karachaganak field (also known as Karachaganak) is one of the largest oil and gas fields in the world, located in the western part of Kazakhstan. This field is a joint project between the Government of the Republic of Kazakhstan and several international oil and gas companies.