Kazakhstan achieves biggest oil extraction in its history

11/02/2019 11:28 Oil Market


Kazakhstan achieved the biggest oil production in its history during 2018, with 90 million tons, governmental sources said on February 8. In 2017, crude oil output amounted to 86.2 million tons.

Kazakh Energy Minister Kanat Bozumbayev reported that the oil extraction in 2018 represented an increase of nearly 4 percentual points in relation to the established plans last year, due to the extraction in 3 fundamental places: the wells in Kashagan, Tengiz and Karachaganak.


According to official reports, oil exports in 2018 represented more than 80 % of the country's total production with 72.5 million tons.


Likewise, gas production in Kazakhstan exceeded 55 billion m3 at the end of last year, and exported around 20 billion, with China as its most important destination.


Daily (17.05.2019): Brent crude added 1.2% on Thursday, due to rising tensions in the Middle East

17/05/2019 09:37:00

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