Oil production falls significantly in Kazakhstan in Jan-Feb 2021

NUR-SULTAN. KAZINFORM – 11.6 million tons of crude oil have been extracted in the first two months of the year in Kazakhstan, 13.2% less than in the given period of the previous year, Kazinform cites energyprom.kz.

Oil production fell by 7.1% to 73 million tons in the country in 2020. 11.6 million tons of crude oil have been extracted in the first two months of the year in Kazakhstan. Of 5.9 million tons of oil produced in January, 721.3 thousand tons were sold inside the country, 1.8fold less than a year before. 5.2 million tons of oil and crude oil products worth $1.6bn were imported, decreasing by 7.9% in volume terms and 39.4% in money terms compared to January last year.

This year, the Kazakh Energy Ministry elaborates a national project for the development of petrochemical production. The measures envisage the construction of five new plants by 2025, a 9fold rise in production or 2 million tons of petrochemical production, and investments of around $3.9bn in the economy.