Summary
Summarizing. National Company «KazMunayGas» has announced its performance results in 2016
#3 (105), June 2017
Production and Financial Indicators In 2016, the consolidated volume of oil and gas condensate production across the NC KMG group of companies amounted to 22.639 mln tons. The total production volume in the brown-fields group reached 15.981 mln tons. Natural and associated gas production amounted to 7.384 bln m3. Oil transportation volume through main pipelines amounted to 56.6 mln tones. Oil transportation by sea in 2016 made up 7.082 mln tons.
Bizarre Privatization
#3 (105), June 2017
Large-scale Sale
Kazakhstan has announced the large-scale state property sale. The privatization officially started in December 2015, when the government by the resolution No.1141 approved the list of state and quasi-public facilities to be sold to private investors within the following four years. The list includes around one thousand communal and republic property enterprises, subsidiaries and affiliates of the national and managing holdings, and the national companies themselves.
OPEC: Lacking the Fire
#3 (105), June 2017
The official meeting of the OPEC member countries on May 25 and the subsequent meeting of 24 countries participating in the agreement on the reduction of oil production did not bring surprises. The decision recommended on the eve of the ministerial monitoring committee on the prolongation of the contract for 9 months - until March 2018, was made. Reduction quotas for OPEC and non-OPEC countries were retained, and no new participants were added. As a result, the price of oil on the same day, went down.