Kazakh President Nursultan Nazarbayev considers that the renewal of Iraqi oil supplies to the world market will not influence hydrocarbon exports from Kazakhstan
Published:
5 August 2003 y., Tuesday
Kazakh President Nursultan Nazarbayev considers that the renewal of Iraqi oil supplies to the world market will not influence hydrocarbon exports from Kazakhstan.
"I think that in the near future Middle East oil, including Iraqi, will not have a significant influence on Kazakhstan. If this were the case, then Saudi Arabia, which has enormous oil potential, could have competed with us long ago, but it is still not doing so," the president said at a press briefing in Aksai.
Nazarbayev noted that the pace of development of the world economy indicates that in the coming 25 years consumption of hydrocarbons will increase 25%, therefore Kazakhstan will increase supplies to the world market. The president noted that Kazakhstan, in addition to using existing pipelines, is cooperating with China to implement a project to build a pipeline from Kazakhstan to Western China.
As reported earlier, the Kazakh president participated in a ceremony to launch the Karachaganak processing complex and the start of oil exports from new production capacities at the Karachaganak field on Friday.
Kazakh Energy and Mineral Resource Minister Vladimir Shkolnik, who is on a visit to Washington, also considers that the start of operations at Iraqi oil fields will not influence investment policy towards Kazakhstan in the U.S. and Europe.
Šaltinis:
Interfax
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »