Kazakhstan
News
March 14, 2024
The expansion of the Tengizchevroil venture, known as the Future Growth Project, has delayed its full startup into the second quarter of next year. The project has gone well beyond its initial budget of $37 billion and the completion date had already been rescheduled twice from the original plan of mid-2022.
News
April 14, 2022
Kazakhstan expects its main oil-export route via Russia to restore full operations in late April, but remains concerned about the possible impact of Western sanctions or shipping problems on the flow of crude.
News
March 25, 2022
Chevron Corp.’s oil production venture in Kazakhstan -- which operates the country’s largest field -- is curbing output due to issues at a supply link on the Black Sea.
News
January 11, 2021
“The market has now reached a price level that potentially doesn’t reflect current fundamentals,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S. “Oil could be next in line” to suffer from a stronger dollar after other commodity prices came under pressure.
News
January 08, 2021
Government-owned Abu Dhabi National Oil Co. set Murban crude at a premium of 75 cents a barrel to the regional benchmark, according to a notice from the producer.
News
January 07, 2021
State producer Saudi Aramco on Wednesday raised its flagship Arab Light oil to Asia, its biggest market, to $1 above the benchmark used by the company.
News
January 06, 2021
“We are the guardian of this industry,” Saudi Energy Minister Prince Abdulaziz bin Salman said as he announced Saudi's production cut on Tuesday, preserving the OPEC+ deal and sending oil prices to 10-month highs. He emphasized that the decision was made unilaterally by Crown Prince Mohammad bin Salman himself.
News
January 05, 2021
The deal, which emerged after two days of talks, sent crude surging to a 10-month high in New York. It appeared to give most members of the group what they wanted -- the additional price support desired by Saudi Arabia and the production boost Russia had been pushing.
News
January 04, 2021
The difference of opinion between Saudi Arabia and Russia, the two de-facto leaders of OPEC+, could make for another tricky meeting. While Russia appeared to be outnumbered, the group typically requires a consensus among all members before concluding talks.
News
October 31, 2019
“Our involvement in the early stages of the project means we can work with KPO across a range of work to optimize the Karachaganak field with a focus on achieving an outstanding safety performance and operational excellence,” said Mark Fields, group president of Fluor’s Energy & Chemicals business.
News
October 21, 2019
The retreat from the fields in the Kashagan area reflects an industry-wide push to cut break-even costs as megaprojects give way to smaller endeavors with quicker returns.
News
September 26, 2019
Royal Dutch Shell, Eni and their partners in the Karachaganak oil and gas venture may be required to pay an additional $1 billion to settle a dispute with Kazakhstan over revenue sharing, said people familiar with the matter.
News
January 19, 2018
Kazakhstan’s giant Kashagan oilfield is resuming production after power disruptions cut output this week.
News
January 11, 2018
Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output.
News
May 10, 2017
Wood Group has secured a new framework agreement to provide study engineering for North Caspian Operating Company’s (NCOC) offshore and onshore asset portfolio in Kazakhstan.
News
February 07, 2017
Fluor Corporation has announced its JV team, KPJV, has been selected by Tengizchevroil LLP (TCO) to execute the front-end engineering and design (FEED) for the multi-phase pump project in Kazakhstan.
News
January 25, 2017
Fluor Corp announced that it was awarded a two-year engineering services framework agreement with North Caspian Operating Co (NCOC) for conceptual studies and front-end engineering for its projects in the Caspian region.
News
January 10, 2017
Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more than a quarter of the total pledged a month ago in Vienna.
