Main Indicators
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Industrial Upgrading
In recent years, Kazakhstan's crude oil production is steadily increasing primarily due to favorable external environment that allows companies to invest more in the development of oil fields.
2018: Kazakhstan - is one of the largest
crude oil producer in the world after the
major countries like USA, Russia or Saudi
Arabia.
In 2018, Kazakhstan was also of of the largest oil producer in the world after United States and ahead of Saudi Arabia by producing million barrels per day. Kazakhstan in 2017 increased crude oil production for 1.3% at the level of 518 million tons. Crude oil production in Kazakhstan, in 2018 is increased for 1.2 % at the level of 523 million tons, natural gas production is increased for 1.5% at the level of 664 billion cubic meters. Kazakhstan Energy Ministry expects that by 2022 crude oil production will be increased for 530-550 million tons per year.
Every year Kazakhstan is producing about 500 million tons of crude oil, of which slightly less than half is exported without refining. In contrast of the gas industry, where there is a monopoly and only one way to deliver crude oil, in the crude oil production is more difficult and market participants are gradually changing and growing competition between traders.
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