Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 19 Aug 2022 by Alexander Kudrin
Aug 5 NC KMG: In 1H22 KazMunayGas increased oil production (including gas condensate) by 0.3% y-o-y and gas production by 0.8% y-o-y Aug 10 NCOC: Oil production has resumed at the Kashagan field, suspended due to a gas leak at one of the facilities Aug 11 Energy Ministry: Oil production at the Kashagan field, where a gas leak occurred at the facility last week, has not been fully restored Aug 12 NBK: Kazakhstan's international reserves reached $86,1 bln as of the end of July 2022 (+0.2% m-o-m, but -4% YTD) Energy Ministry: Kazakhstan may exceed the planned amount of oil production for FY2022, which was set at 85.5 mln tons Energy Ministry: Kazakhstan will determine its position on the extension of the OPEC+ deal closer to its expiration date, not in 2022 Energy Ministry: Kazakhstan has no intention to sign an agreement on oil transportation through Azerbaijan yet. Earlier, it was reported that the country plans to transport 1.5 mln tons of oil through the Baku-Tbilisi-Ceyhan (BTC) oil pipeline starting this autumn Aug 15 President: Mr. Bakhyt Sultanov has been dismissed from the position of Deputy Prime Minister - Minister of Trade and Integration of Kazakhstan Aug 16 Bureau of National Statistics: Kazakhstan’s industrial production grew by 2.7% y-o-y in 7M22 Bureau of National Statistics: Agricultural production reached KZT2.4 trln in 7M22 (+2.1% y-o-y in real terms) Bureau of National Statistics: Investments in production capacity in 7M22 grew by 4.5% y-o-y and reached KZT5.2 trln in nominal terms Bureau of National Statistics: Kazakhstan’s foreign trade balance reached $20.7 bln in 1H22 (grew by a factor of 2.4 y-o-y) Bureau of National Statistics: Oil production in...

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