Press Releases


KazMunayGas: $60-70 oil price is acceptable

An interactive discussion entitled “Future of Oil: Reality and Forecasts” was held at the site of Kazakhstan Energy Week 2019 in Nur-Sultan on 26 September 2019. The pressing topics of the oil and gas industry were discussed by Kanat Bozumbayev, the RoK Minister of Energy, Mohammed Barkindo, Secretary General of OPEC, Alik Aidarbayev, Chairman of the Management Board of KazMunayGas National Company, Tom Schuessler, Senior Vice President, ExxonMobil Upstream Oil and Gas, Alessandro Puliti, Chief Executive Officer, ENI SpA and other world-class experts and representatives of oil and gas companies.

Such issues as the global oil consumption peak, change in the oil supply and demand geography in the years to come, the new energy reality and its influence on Kazakhstan's fuel and energy sector, oil price etc., were raised during the discussion.

“Today we discussed matters and problems which are pressing to KazMunayGas, including the oil price and volatility of the world energy markets. I would like to mention that generally the current oil price corridor within the range of 60-70 U.S. dollars is quite acceptable to KazMunayGas”, A. Aidarbayev noted during his remarks.