Global oil supply to go up by 1 mln barrels per day in 2021, says IEA MOSCOW. KAZINFORM Global supply on the oil market is expected to go up by 1 mln barrels per day in 2021 after a decrease by 6.6 mln barrels per day in 2020 mainly due to OPEC+ nations, the International Energy Agency (IEA) said in a report obtained by TASS.
Brent crude oil price exceeds $56 per barrel on London’s ICE first since Feb 25 MOSCOW. KAZINFORM The price of futures contracts of Brent crude oil for March 2021 delivery went up by 3.11% on London's ICE on Friday trading compared with the previous closing to $56.07 per barrel, surpassing $56 per barrel for the first time since February 25, 2020, according to the trading data.
Kazakh President receives Eimear Bonner, Tengizchevroil’s General Director NUR-SULTAN. KAZINFORM Kazakh President Kassym-Jomart Tokayev received Eimear Bonner, General Director at Tengizchevroil, who reported on the company’s efforts to curb coronavirus spread at the production sites and Tengiz oilfield, the Akorda press service informs.
OPEC+ monitoring committee to meet on January 4 MOSCOW. KAZINFORM The meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) was postponed from December 17 to January 4 of the next year, the OPEC Secretariat said on Monday. The OPEC+ ministerial meeting to determine oil production levels for February will be held on the same day.
Kazakhstan to set up int’l oil-and-gas machine building development centre NUR-SULTAN. KAZINFORM An agreement was signed today on establishing an international oil-and-gas machine building development centre pursuant to the task of the Head of State to boost machine building industry, the PM’s official website reads.
Kashagan produces and exports 50 millionth ton of oil ATYRAU. KAZINFORM The Kashagan oilfield in the Caspian shelf reached another milestone since its relaunch in 2016. It produced and exported the 50 millionth ton of oil, the press service of the operator of the North Caspian Project for the oilfield development said.
A balanced, stable oil market is a prerequisite for post-pandemic recovery: OPEC-Russia Energy Dialogue VIENNA. KAZINFORM A balanced and stable oil market is a prerequisite for post-pandemic recovery, adequate investments and future prosperity for consumers and producers alike, affirmed the Seventh High-level Meeting of the OPEC-Russia Energy Dialogue, hosted by OPEC, which took place via videoconference on 03 November 2020.
Kazakhstan bans export of liquefied petroleum gas NUR-SULTAN. KAZINFORM The Kazakh Energy Minister decreed on October 7 to impose a ban on export of liquefied petroleum gas to CIS by road for a period of three years, the Ministry’s press service informs. Previously, the same ban was imposed in 2017 for a term of three years.