Kazakhstan plans to discuss extension of its oil liabilities in OPEC+ deal

Kazakhstan plans to discuss extension of its oil liabilities in OPEC+ deal

Astana. November 27. KazTAG – Kazakhstan plans to discuss extension of its oil liabilities within the frameworks of OPEC+ deal, said Kanat Bozumbayev, Minister of Energy of Kazakhstan.

“Yes, we will go to Vienna, all the parties involved in the deal will discuss it. Kazakhstan plans to discuss (extension of its oil liabilities-KazTAG),” he said at the briefing on Monday.

He said Kazakhstan has received an invitation to the OPEC session.

As it was reported, OPEC’s oil export group and several states outside the organization, including Kazakhstan, agreed to lower oil production by 1.8 mln barrels per day in December 2016 to bring balance to global demand and proposal. Kazakhstan lowered production by 30 000 barrels per day. Later the parties agreed to extend the deal until March 2018.

Next OPEC session will take place in Vienna on November 30.

The net profit of KazMuayGas amounted to 444.019 bn tenge in January-September 2017, 2 times up year on year (217.221 bn tenge), indicates the financial report of the company.

The cost of assets of the national company increased to 13.492 trln tenge in 9 months against 11.883 trln tenge at the beginning of the year.

The liabilities of the company have reached 6.821 trln tenge as of September 30 2017 against 5.605 trln tenge at the beginning of the year.

The capital of KMG amounted to 6.671 trln tenge in comparison to 6.278 trln tenge as of December 31 2016.

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