Kazakhstan increased the forecast for domestic oil production in 2017 from 81 million tons to 85.5 million tons, or by 5.55 percent.
"In 2017 it was planned to produce 81 million tons of oil, in fact, oil production is projected at 85.5 million tons, mainly due to large projects - Kashagan, Tengiz and Karachaganak," Kazakh Energy Minister Kanat Bozumbayev told the Kazakhstanskaya Pravda newspaper.
He said that in 2017 the main indicators of the sectors supervised by the ministry are stable and show positive dynamics. In particular, in January-October the volume of oil production amounted to 71.1 million tons, which is 11.4 percent more than in the same period of 2016.
"The volume of produced gas reached 43.5 billion cubic meters, which is 15.6 percent higher than the same period in 2016. Some 86.6 million tons of coal were supplied to power generation, which ensured generation of 83.1 billion kWh of electricity (that is, 9.8 percent more than in the same period of 2016)," the minister said.
Over the 10 months of this year, 86.6 million tons of coal were mined in the republic (excluding coal concentrate), which is more by 9 million tons, or 11.6 percent compared to the corresponding period of 2016. Export of coal amounted to 23.4 million tons, which is 13.6 percent more than in the same period of 2016.
Bozumbayev further reminded that by the end of the year the reconstruction and renovation of the Atyrau oil refinery and the Pavlodar petrochemical plant will be completed.
"The result of these efforts will be not only an increase in domestic capacities for in-depth refining of oil and production of light oil products, but also an increase in their quality to the level of Euro-4 and Euro-5," the minister said.
In 2018, the ministry plans to continue work aimed at providing the domestic market with oil products and preventing the unjustified growth of prices for strategic goods - coal, gas, diesel fuel. Cooperation with large companies-subsoil users will be developed in the framework of expansion projects for Tengiz, Karachaganak, increasing the capacity for re-injection of gas (Kashagan), aimed at increasing oil production, the Kazakh Energy Minister noted.
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