Economy • 11 June, 2019

Ministry of Energy: Annual oil production plan will be implemented

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At the Government meeting chaired by the Prime Minister Askar Mamin, Minister of Energy Kanat Bozumbayev reported on the development of the oil and gas industry in January-May 2019.

According to the Ministry of Energy, oil and gas condensate production amounted to 36.5 million tons, which is 101% of the plan for five months 2019 or 96.8% over the same period in 2018. Oil production within three major projects amounted to 21.7 million tons, including on Kashagan — more than 4 million tons, Tengiz — 12.48 million tons, Karachaganak — about 5 million tons.

“The first major overhaul was successfully completed at Kashagan. Today, Kashagan production volume reached a record level of 400 thousand barrels per day. In general, the annual oil production plan will be implemented,” said Bozumbayev.

Oil refining for the five months amounted to 6.7 million tons, with an increase over the same period of 2018 by more than 5%.

Production of the main types of petroleum products amounted to more than 5 million tons, an increase of 14% over the same period last year. In general, the situation in the oil products market is stable, there is no shortage in the fuel and lubricants market.

According to the Ministry of Energy, as of June 7, 2019, the average retail price for AI-92 gasoline is 148.7 tenge, for summer diesel fuel — 192 tenge. There is a decline in retail prices for gasoline brand AI-92. Thus, the minimum prices for gasoline AI-92 are 139 tenge per liter in the West Kazakhstan region, for diesel fuel — 175 tenge per liter in the Turkestan region.

“With regard to the export of Kazakhstani high-octane gasoline, today the legal framework has been fully prepared. In the near future, it the order of the Ministry of National Economy to reduce the export customs duty rate on light types of petroleum products is expected. Gasoline exports are scheduled for the second half of June 2019,” said Bozumbayev.

As of June 7, 2019, the amount of fuel residues at the country's oil depots is enough to cover the needs of the domestic market: gasoline reserves of the АI-92 — 192.4 thousand tons, and diesel fuel — 196.4 thousand tons.

According to the approved schedule, 380 thousand tons of diesel fuel should be delivered to agricultural producers. In accordance with the application of the Ministry of Agriculture, the need for diesel fuel is fully satisfied

According to the Minister of Energy, since the beginning 2019, gas production amounted to more than 23 billion m³. By the current plan, over-fulfillment is 1.3%. Gas exports amounted to 7.7 billion m³ or 89.5% over the same period in 2018. The decrease in exports is due to an increase in domestic gas consumption.

Production of liquefied petroleum gas for five months 2019 amounted to 1.28 million tons.

According to Bozumbayev, electricity generation amounted to 44.1 billion kWh. The volume of uranium mining amounted to more than 9 thousand tons, which is 100.4% over the same period of 2018.

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