Kazakhstan cut its crude oil output forecast for 2014 after a halt at the $48 billion Kashagan project in the Caspian Sea that puts its expansion at risk.
KazMunaiGas Exploration Production plans to spend as much as $300 million to buy back ordinary shares through the end of 2012, the oil unit of Kazakhstan’s state energy company said.
KazMunaiGas Exploration Production said it boosted crude output by 16 percent last year.
Given the choice between love and money, Samal, a tall, curly-haired 23-year-old woman from a village in southern Kazakhstan, would take the cash.
KazMunaiGas Exploration Production , the London-traded unit of Kazakhstan’s state-run energy producer, said output at the Karazhanbasmunai oil unit has begun to recover as a protest winds down.
Shinhan Bank agreed to help KazMunaiGas Exploration Production raise $500 million to build an oil-loading terminal in Kazakhstan.
KazMunaiGas Exploration Production , the London-traded arm of Kazakhstan’s state oil producer, said profit more than doubled in the second quarter compared with a year earlier.
KazMunaiGas Exploration Production, the London-listed unit of Kazakhstan’s state energy company, said first-half oil output fell 4 percent because of adverse weather and strike action.
KazMunaiGas Exploration Production, a unit of state-owned KazMunaiGaz National Co., said output declined after 1,000 workers walked off the job to protest the arrest of a company driver for alleged possession of heroin.