Kazakhstan Does Not Intend To Reduce Oil Exports

Kazakhstan, as distinct from other major oil producing countries, does not intend to reduce its oil exports, said economics and trade minister of Kazakhstan Zhaksybek Kulekeyev in Astana. His statement was circulated on Tuesday through the channels of the OPEC general secretariat based in Vienna. According to the Kazakh minister, "Astana did not receive an official request from OPEC to reduce oil exports so far." In any case, Kulekeyev stressed, "we do not want to commit ourselves to reduce quotas on crude oil". According to him, "Kazakhstan plans to increase the volumes of oil products, including gas condensate, from 40 million to 46 million tons. He added that 30 million out of 40 million tons of crude oil and gas condensate are being exported. "I believe," Kulekeyev said, "that the OPEC interests in Kazakhstan will not change at least till the time when we will begin exporting 50 million tons of oil a year. "According to our strategic plans we are going to increase annual oil production up to 100-110 million tons in a ten-year period.