Russia, the world’s largest oil producer, has increased monthly crude output by 0.3 percent in May of 2013, to the highest level of the year,according to preliminary data from the Energy Ministry’s CDU-TEK unit.
Output of crude and condensate was 44.3 million metric tons, or 10.481 million barrels a day.
OAO Gazprom (GAZP), Russia’s gas export monopoly, boosted output by 5.8 percent to 353,000 barrels a day. OAO Rosneft (ROSN), the world’s largest publicly traded oil producer, and its subsidiary OAO TNK-BP produced 3.85 million barrels last month, up 0.3 percent from April, according to the data.
Russia set a post-Soviet-era production record of 10.49 million barrels a day in November. Soviet-era production in Russia peaked in 1987 at 11.48 million barrels a day. President Vladimir Putin has called for production to be maintained at more than 10 million barrels.
For more information on the Russian oil industry, contact RADA LLC, a leading provider of due diligence services in Russia, the Caucasus, and Central Asia.
Kaznex Invest-the Kazakh National Agency for Export and Investments and the Ministry of Industry and New Technologies of Kazakhstan, together with the Netherlands Chamber of Commerce and the Kazakh Embassy to the Netherlands will hold a road show demonstrating the investment opportunities of Kazakhstan in The Hague on June 7.
According to Kaznex Invest, this show will be the first event that will be fully dedicated to Kazakhstan’s investment opportunities and priority areas attractive for foreign investors. The reps of foreign companies will have an opportunity to familiarize with the economic development of the country and our plans for the future. Also they will be able to carry out direct negotiations with the Kazakh authorities responsible for the development of key areas.
During the event the participants will discuss the following issues: why direct investments into Kazakhstan are so profitable; what is so special about the investment climate in Kazakhstan; what actions, measures and legal steps does Kazakhstan take to improve the business environment; what areas are the most attractive for implementation of foreign investors’ projects; why choosing Kazakhstan for direct investments among other Customs Union member states and so on.
JSC “Samruk-Energo,” JSC “KazAgroFinance,” JSC “Kazakhstan Engineering,” the Kazakh National Agency for Technological Development and JSC “NC “Kazakhstan Temir Zholy” are expected to demonstrate their projects to foreign investors.
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Oil and gas explorer Max Petroleum Plc announced that Kazakhstan’s energy ministry had extended the exploration period of the company’s Astrakhanskiy block license by two years until Jan. 12, 2012.
The Kazakhstan-focused company said the amendment to the licence also established a three-year project, including a commitment to start drilling the first exploration well on the block by Dec. 31, 2009.