Kazakhstan raises oil production by 2.6% m/m in January.

By bne IntelliNews February 15, 2012
Kazakhstan increased crude oil production by 2.6% m/m to 5.779mn tons in January, the State Stat Agency has reported. However, in y/y terms production declined by 1.2%. Gas condensate output decreased by 0.1% m/m and by 7.1% y/y to 1.094mn tons. Natural gas production increased by 2.6% m/m and by 2% y/y to 1.811bn m3. In 2011, Kazakhstan produced 67.735mn tons of crude oil (decrease of 0.5% y/y), 12.303mn tons of gas condensate (increase of 6.1% y/y) and 18.278bn m3 of natural gas (growth of 9.6% y/y). Oil is the main commodity exported by Kazakhstan. The government forecasts that oil and gas condensate production will reach 83mn tons this year.
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