Kazakhstan’s annual oil processing output to exceed 17mn tonnes

NUR-SULTAN. KAZINFORM The annual oil output in Kazakhstan will exceed 17mn tonnes, according to Deputy CEO of KAZENERGY Association Uzakbay Karabalin. He said it at the 6th International Conference on ‘Oil Processing and Petrochemical Industry in the Caspian and Central Asian Regions» being held in Nur-Sultan today, Kazinform reports.

«According to forecasts, consumption of hydrocarbons will rise in the nearest decades, while consumption of oil and gas-chemical sectors’ products will double. This market is estimated at around 2trn U.S. dollars. For this reason, the issues of oil processing and petrochemical industry are of paramount importance for our country, as one of the largest exporters of hydrocarbons in the region,» said Uzakbay Karabalin.

He reminded that Kazakhstan produced 90mn tonnes of oil last year, that was a record-breaking volume in the history of the country’s oil and gas sector.

In his words, Kazakhstan’s oil and gas sector develops actively which is proved by successful completion of reconstruction of the three largest oil refineries, which in turn will let increase oil processing up to 17mn tonnes.

«However, the Government has been set a task to increase non-primary exports twofold by 2025. Petrochemical products should comprise a considerable part of exports,» he emphasized.

The 6^th International Conference on ‘Oil Processing and Petrochemical Industry in the Caspian and Central Asian Regions began in the Kazakh capital today. Chief executives of the oil processing and petrochemical companies of Kazakhstan, Uzbekistan, Tajikistan, Azerbaijan and Kyrgyzstan arrived in Kazakhstan for the event.