Thursday, 17 August 2006

KAZAKH OIL FIRM RAISES 7-MONTH OIL OUTPUT

Published in News Digest

By empty (8/17/2006 issue of the CACI Analyst)

Kazakhstan\'s state oil and gas company Kazmunaigas (KMG) said on Thursday its oil production in the first seven months of 2006 rose 106,400 tonnes to 5.5 million tonnes from the same period of last year. KMG plans to float up to 40 percent of upstream subsidiary Kazmunaigas EP on a foreign stock market, possibly in London, and raise $2 billion through the offering later this year.
Kazakhstan\'s state oil and gas company Kazmunaigas (KMG) said on Thursday its oil production in the first seven months of 2006 rose 106,400 tonnes to 5.5 million tonnes from the same period of last year. KMG plans to float up to 40 percent of upstream subsidiary Kazmunaigas EP on a foreign stock market, possibly in London, and raise $2 billion through the offering later this year. It said in a statement that oil refining at its Atyrau oil refinery fell 2.6 percent to 2.1 million tonnes due to planned maintenance work. This year the refinery plans to process 3.4 million tonnes of oil. Oil shipments by Kazakh pipeline company Kaztransoil, also a KMG unit, rose 13.1 percent to 24.2 million tonnes in that period, the company said. (Reuters)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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