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Kazakhstan aims to increase oil production by 16% and develop gas chemistry

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In the coming years, Kazakhstan plans to increase oil production from the current 90 million tons per year to 104-105 million tons per year and to stimulate the development of petrochemical chemistry.

This was announced today by the Minister of Energy of Kazakhstan Kanat Bozumbayev during the Forum of Future Leaders in St. Petersburg.

In 2018, Kazakhstan produced 90.3 million tons of oil and 55.486 billion cubic meters of gas.

“We expect that in the coming years we will produce 104-105 million tons of oil, plus we have quite a lot of associated gas. One of the ways to use gas in the future will be the development of petrochemical chemistry,” he said.

According to him, Kazakhstan gives “unprecedented benefits” to producers of petrochemical products.

Bozumbayev also expressed the opinion that the world “demand for oil will peak at 2030, then there will be a slight decrease, by 2050 95-96 million b / s will be consumed, this will be connected with the development of transport.”

According to his estimates, gas consumption in the world will grow, and global demand for coal will decrease by 2 times by 2050. According to Bozumbayev, the use of renewable energy sources in the world will increase due to the reduction in the cost of generation.

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