Kazakhstan Plays Key Role In Global Oil Market - President Tokayev
Date
8/29/2024 6:08:52 AM
(MENAFN- Trend News Agency)
ASTANA, Kazakhstan, August 29. Kazakhstan has
joined the ranks of countries playing a key role in the global oil
market, President of Kazakhstan Kassym-Jomart Tokayev said,
Trend reports.
He spoke at a special meeting dedicated to the 125th anniversary
of Kazakhstan's oil and gas industry.
“Oil and gas are strategic resources, the backbone of the
national economy. This has become possible thanks to the hard and
dedicated work of oil workers. Today, about 250,000 people work in
this sphere. The industry itself is moving forward. Innovative
technologies are introduced into production, and new standards of
environmental safety are approved. In addition to the extraction of
raw materials, Kazakhstan has established its processing. We
produce the majority of fuels and oil products. Undoubtedly, a
great merit in this belongs to the KazMunayGas national company. We
have also created world-famous brands. The energy security of the
country has been strengthened,” he said.
The president also noted the contribution made to the
development of the industry by the world's leading oil and gas
corporations, such as Chevron, ExxonMobil, CNPC, Eni, Shell,
LUKOIL, Total, and Sinopec.
“The development of Tengiz, Kashagan, Karachaganak, and the
realization of the Caspian Pipeline Consortium project are vivid
examples of mutually beneficial cooperation between the state and
investors. Kazakhstan is tightly integrated into the global economy
and attracts a large volume of investment thanks to an open and
verified policy in this area,” the president of Kazakhstan
added.
Meanwhile, the volume of crude oil production in Kazakhstan
amounted to 44.9 million tons from January through July 2024, which
is 0.9 percent less compared to the same period last year (45.3
million tons).
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