Kazakhstan raises export duty rates for crude

Mar 11. Tengrinews

Kazakhstan raises export duty rates for crudeExport duty rate for crude is to be raised from $60 to $80 per ton, Newskaz.ru reports, citing the country’s Minister of Economic Affairs and Budget Planning Yerbolat Dossayev as saying today at a government sitting.

“Budget revenues are expected to grow by $505.5 billion through raising the export duty rate for crude from April 1, 2014”, the Minister said.

Oil production output, including condensed gas in 2013 totaled 81.73 million tons, 3.2% up against 2012, with crude production standing at 69.43 million tons (4.4% up).

Crude and condensed gas exports in 2013 made up 72.077 million tons.


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Kazakh KazMunaiGas head announces oil price reasonable for company

March 7. Trend. Astana

By Daniyar Mukhtarov

The reasonable oil price for Kazakhstan’s national oil and gas company KazMunaiGas is $90 per barrel and more, chairman of the board of KazMunaiGas JSC, Sayat Mynbayev said.

“Less than $90 per barrel is not so good for us. Any price exceeding the current price is reasonable and normal for KazMunaiGas,” Mynbayev said.

It would be preferable for KazMunaiGas to be simply an observer in OPEC rather than a member of this organization, according to Mynbayev.