• 6 minutes U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 2 hours Can the World Survive without Saudi Oil?
  • 10 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 2 days COLORADO FOCUS: Stocks to Watch Prior to Midterms
  • 1 day $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 9 hours German Voters Set to Punish Merkel’s Conservative Bloc
  • 1 day How Long Until We Have Working Nuclear Fusion Reactor?
  • 2 days China Thirsty for Canadian Crude
  • 4 hours Threat: Iran warns U.S, Israel to expect a 'devastating' revenge
  • 2 days China Tariff Threatens U.S. LNG Boom
  • 10 hours Saudi A Threatens to Block UN Climate Report
  • 2 days Cruise ship could get a 100'000$ fine for using illegal bunker fuel
  • 2 days UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 2 days China auto sales sink
  • 8 hours Nothing new in Middle East? Iran Puts On 'Show Of Strength' Military Exercise In Gulf
Alt Text

Is The U.S. Using Force To Sell Its LNG To The World?

The United States has targeted…

Alt Text

A New Era Of Geopolitical Risk In Global Oil Markets

The geopolitical landscape in oil…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory – 31st July 2015

Politics, Geopolitics & Conflict

Kazakh Oil and the Long Road to the WTO

This week, as Kazakhstan—after 19 years of trying—has finally had its membership in the WTO formally approved, we will take a brief look at Kazakhstan’s oil scene and what’s out there for foreign investors.

First things first, Kazakhstan’s WTO process was a painfully long one because of slow progress in enacting energy reforms, among other key reforms and tariff regimes. At the same time that the WTO has approved Kazakhstan’s membership in the club, the Kazakh government has announced plans to build a fourth oil refinery in Mangistau and that the construction of this refinery would likely be done in cooperation with Iran. Talks to this end have already been launched with the Iranian Oil Ministry. Oil from Mangistau will be sent to northern Iranian ports, while Iranian oil from the south will feed Mangistau and beyond. The refinery project is estimated to cost around $6 billion and the two sides are hoping to sign a construction deal by the end of this year. Kazakhstan needs the refinery as its other three cannot meet the local demand for petroleum products and fall short by about 1.5 million tons (30% of the total market demand, which is largely now covered by imports from Russia).

Overall, however, this is what potential foreign investors should be looking at: Kazakhstan is the largest landlocked country in the world and it sits right between…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News