Kazakhstan cuts oil manufacturing forecast for 2020

72

NUR-SULTAN, Kazakhstan – Due to low world oil costs, Kazakhstan has decreased its deliberate oil manufacturing for this yr to 86 million tonnes, National Economy Minister Ruslan Dalenov stated. “Against the backdrop of low prices, the forecast for oil production is reduced by four million tonnes to 86 million tonnes,” Dalenov advised at authorities assembly.

Oil manufacturing in Kazakhstan in 2019 amounted to 90.5 million tonnes, in 2018 – 90.36 million tonnes, he stated.

Kazakhstan is forecasting a median oil value for April-December 2020 at $20 per barrel.

The Kazakh authorities has famous that it’s essential to speed up the implementation of latest funding tasks, particularly, the Karachaganak enlargement venture.