Kazakhstan's oil exports grow by 12%

Crude oil production, including oil derived from bituminous minerals, in January-May amounted to 31.9 million tons, which is 5.5% more compared to the same period last year, El.kz reports with reference to Energyprom.kz.

According to the Ministry of Energy of the Republic of Kazakhstan, at the end of June, a ministerial meeting of the countries participating in the OPEC+ agreement was held in the format of a video conference, and it was decided to continue increasing the current level of production by OPEC+ countries in August - by 0.648 million barrels per day. Kazakhstan's obligations for August will amount to 1.706 million barrels per day.

Almost all crude oil produced in Kazakhstan was exported. Thus, in January-April 2022, 25.3 million tons were produced, of which 24.4 million tons were exported, which is 12.2% more compared to the same period last year. At the same time, the volume of sales in the domestic market decreased by more than 2 times, to 1 million tons.

In January-May, 30.2 million tons of crude oil and crude petroleum products derived from bituminous minerals were exported , which is 12.1% more compared to January-May 2021. 8.3 million tons were sent to Italy, 3.3 million tons to the Netherlands, 2.5 million tons to South Korea and 2.2 million tons to China.

Export prices for the supply of crude oil and crude petroleum products derived from their bituminous minerals in January-May increased immediately by 58.4% compared to the same period last year. For comparison: a year earlier, the growth was 19.3%.

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