III International Downstream Central Asia Conference

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Friday, 17 June 2016 12:08

III International Downstream Central Asia Conference

Astana held III International Conference “Oil Refining and Petrochemistry in Central Asia” with the support of KAZENERGY Association. During the event, Magzum Mirzagaliyev, Vice-Minister of Energy of RK, and Uzakbai Karabalin, Deputy Chairman of KAZENERGY Association, delivered their welcoming speech.

The main sessions were devoted to oil refining and petrochemistry development strategy and ensuring sustainable development and independence of the sector in the region. Specialists from the state bodies and different companies considered and discussed the global impact of macroeconomic indicators, currencies volatility on the industry of Central Asia. Refinery operations in Kazakhstan, three refineries modernization process were reviewed. In his speech, Uzakbai Suleimenovich noted: “Oil and gas sector is on the cross-road of ways, opinions and forecasts. The events of recent years have exerted very controversial influence of different factors to exploration and production sector, as well as to oil and gas refining. Within this, we hope that the global oil and gas complex has not exhausted its potential. During the 20th and 21st centuries, oil has been repeatedly pushed to the background in the world economy, but it is still the main market product”.

It should be noted that the majority of participating experts believe that today there is a trend of the gradual growth of oil price and improvement of production indicators. Despite the difficult period, there will be balance and stabilization in energy industry. The role of fossil hydrocarbons persists in the world. Oil and gas industry of Kazakhstan is aimed at creation and development of efficient refining and petrochemical fields. Oil refining accounts for only 1,2% of GDP and it is not enough for the republic. In this regard, the approach and experience of other countries in addressing challenges in these areas is very interesting.

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