12 June, 2018

Oil products market is stable and no fuel and lubricants shortage observed — Ministry of Energy

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This was said by First Vice Minister of Energy Makhambet Dosmukhambetov June 12 at the Government meeting chaired by the Prime Minister Bakytzhan Sagintayev in the report on the results of the agency's work for 5 months of 2018, reports primeminister.kz.

According to the Vice Minister, the volume of oil and condensate production amounted to 37.7 million tons, which shows an increase of 6.4% compared to the same period in 2017. At the same time, oil production for the three major projects amounted to 22.7 million tons: Kashagan field produced 5 million tons, Tengiz – 12.5 million tons, Karachaganak – 5.2 million tons.

For export, 30.6 million tons of oil were sent, or 105.7% to the same period in 2017. The production of 6.3 million tons of oil was conducted, which is 6.2% more than the corresponding period last year.

"The volume of production of petroleum products at the three refineries amounted to 4.4 million tonnes, or 1.5% up on the same period of 2017. In general, the situation on the petroleum products market is stable and there is fuel shortage," Dosmukhambetov stated.

Within the approved schedule of diesel fuel supply for spring field work in accordance with the request of the Ministry of Agriculture, the demand is fully satisfied.

In the first 5 months of the year, 23.4 billion cubic meters of gas have been produced, an increase of 6.4% over the same period in 2017. The gas export amounted to 8.6 billion m3, which is 28.4% more compared to the same period in 2017. Liquefied petroleum gas was produced at the level of 1.3 million tons, which is also 4.7% higher than the last year's level.

According to the Ministry of Energy, 46.4 billion kWh of electricity was generated, which is 7.7% more than in the same period in 2017. The volume of coal production (excluding coal concentrate) amounted to 44.5 million tons, or 4.5% more than last year's level.

"The fuel and energy industry continues its dynamic development. Achievement of key indicators is on constant monitoring and control of the Ministry," Dosmukhambetov said.

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