Kazakhstan expects decline in oil production to 77 million tons in 2016
Edited by Rhod Mackenzie / 2015-09-08 11:22:07
According to the draft national budget for 2016-2018, submitted to Parliament, in 2016, Kazakhstan plans to produce 77 million tons of oil as compared to 80.5 million tons, which are expected to be produced in 2015.
"The forecast of revenues from the oil sector’s companies to the National Fund for 2016 made up 1.6 trillion tenges, based on the volume of the oil production of 77.0 million tons, the world oil price of $40 per barrel and the exchange rate of tenge to US dollar of 250 tenges," – the document says.
