Metals and mining, Kazakhstan Oil and Gas
Currently Rio Tinto intends to invest more than $ 100 million into geological exploration in 14 countries around the world, where the company works, including Kazakhstan.
In the framework of the official visit of the Kazakhstani President to Japan on November 8th there was a meeting of the Minister for Investment and Development of Kazakhstan Zhenis Kasymbek and cha
There is a decrease in the total oil production in Kazakhstan.
Kazakhstan’s President Nursultan Nazarbayev has urged the Government to focus its efforts on a number of export-oriented industries in the coming years.
He noted that the Kazakhstan's economy was experiencing a strong external pressure because of the fall in the Kazakhstani goods prices.
"The economic activity in the country is maintained, to be honest, due to massive state injections, investments. Therefore, today it is important to form new sources of our economy growth. In this connection, in the coming years, we should focus the Government efforts on a few export-oriented priority sector," - said Nazarbayev at the meeting by results of the industrialization in the first six months of 2016.
In the coming years, Kazakhstan expects private investment in the amount of 900 billion tenges in exploration, the website of the Prime Minister of Kazakhstan reports with reference to the Minister for Investment and Development of Kazakhstan Asset Issekeshev.
"The development of geological sector is a fundamental factor in the economic development of the country. (...) Today, on the exploration program, which is implemented in Kazakhstan from 2015 to 2019, 120 billion tenges are allocated from the budget. We expect that at the expense of private investment 900 billion tenges more will be invested,"- he said.
In 2015, Kazakhstan increased the gas production by 5.2% as compared to 2014 to 45.713 billion cubic meters, the Statistics Committee reports.
In January-July, the volume of industrial production in Kazakhstan increased by 0.2% as compared with the corresponding period of 2014, the KazTAG reports, referring to Statistics Committee of the Kazakh Ministry of National Economy.
The prices of the enterprises –producers of industrial goods fell by 1% in July 2015 against June 2015, the Statistics Committee of the Ministry of National Economy of Kazakhstan reports.
According to the agency, in July 2015 compared to June 2015 the prices in the mining sector fell by 1.5%, in processing sector – by 0.7%. The prices per produced steel goods fell by 1.2%, for production services rose by 1.2%.
In July 2015 the prices fell for gas condensate by 7.3%, for liquid propane and butane by 2.7%, for metal ores – by 1.6%, oil – by 0.8%, prices rose for petrol by 1.2% and grease oil – by 0.9%.
The price for lead fell by 7.8%, zinc – by 6.3%, copper – by 5.3%, aluminium – by 2.7%, ferrous rolled products and precious metals – by 1.5%, ferroalloys – by 1.3%.
Implementation of measures on reforming the sector and introduction of advanced methods of subsoil use is provided for within the competence of the Kazakhstan’s Ministry of Energy in the oil and gas sector.
According to the 74th step of the plan of nations, it is planned to move to the international accounting system of CRIRSCO. The First Deputy Energy Minister of Kazakhstan Uzakbai Karabalin reported about this and other processes at the press conference in the Central Communications Service under the Kazakh President.
Last year another partner joined the agreement on the scientific and technical cooperation between "KazTransOil" and ChTPZ – MMK.
The Russian steel group "ChTPZ" has delivered high-strength pipes for the repair of the TON-2 pipeline in Kazakhstan.
The global reconstruction will involve more than 14 thousand large-diameter pipes. "KazTransOil", which is a customer of the batch, reported that work is already scheduled to be completed this year. The updated pipeline could transfer up to 10 million of oil per year, whereas before the repair it could overpower no more than 7 million tons of "black gold".