PetroKazakhstan plans to raise oil production by 40% y/y this year.

By bne IntelliNews September 27, 2012
PetroKazakhstan plans to increase its oil output by 40% to 8.421mn tonnes this year, the company has informed. In H1, the company produced 4.202mn tonnes of oil and predicts output at the level of 4.208mn tonnes in H2. Last year the company produced 5.9mn tonnes of oil which was 2.4% less than in 2010. PetroKazakhstan did not explain what the main drivers of the growth in oil production were. PetroKazakhstan is owned by Chinese CNPC (67%) and national oil and gas holding KazMunayGas (33%) since 2005.

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