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ASTANA (TCA) — Kazakhstan President Nursultan Nazarbayev has set the task to fully meet the country’s need for fuel with domestic oil products only by 2018, Novosti-Kazakhstan news agency reported. Continue reading
BISHKEK (TCA) — The World Bank has lowered its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections. Low oil prices hit oil-producing countries in Central Asia, mainly Kazakhstan, and Russia. Continue reading
TASHKENT (TCA) — Vietnam’s Petrovietnam Exploration & Production (PVEP) has suspended geological prospecting for oil and gas in Uzbekistan, Novosti Uzbekistana news agency reported. Continue reading
ALMATY (TCA) — State officials in oil crisis-hit Kazakhstan have discovered a $20 billion hole on the balance sheet of the National Wealth Fund. Should the state funds be spent this way on, the state coffers will be empty before the end of this decade. A political crisis is looming. In a move to avoid it, the Parliament has applied for snap elections to be held as early as March this year. Continue reading
TASHKENT (TCA) — South Korea company Young Shin Tech plans to organize production of gas cylinders for motor vehicles in Uzbekistan, Novosti Uzbekistana news agency reported. Continue reading
ASTANA (TCA) — Kazakhstan plans to produce 77 million tons of oil in 2016 compared to 79.460 million tons last year, Novosti-Kazakhstan news agency reported with reference to the country’s Energy Minister Vladimir Shkolnik. Continue reading
