the fuelcard people

News Categories

previous page

Diesel fuel card news: Kazakhstan is considering oil route to Europe

03 March, 10
Kazakhstan is interested in a new oil pipeline to carry its oil across South Caucasus and the Black Sea to Europe.

The country's president, Nursultan Nazarbayev, said at talks with Romania's leader that the proposed pipeline would carry oil across Azerbaijan and Georgia. It would then be transported across the Black Sea to Romania by tanker.

The pipeline would help the country pursue its aim of diversifying into new markets. Kazakhstan is currently central Asia's largest oil producer and exports most of its oil to Russia.

However, with the launch of the Kashagan field in 2013, the world's biggest oil discovery in the last 40 years, Kazakhstan is looking to expand its export market.

After his talks with Romanian president Traian Basescu, Mr Nazarbayev told reporters that "launching ... Kashagan will allow us to produce an additional 50 million tonnes of crude and even more".

Mr Nazarbayev said that from Romania oil could go into the pipeline planned between Romania and Trieste in Italy.

Kazakhstan's oil exports are the basis of its economy and have made sure the average GDP growth for the last six years has stayed above six per cent, according to the Energy Information Administration.

Posted by Tammy Brooks
ADNFCR-2675-ID-19647466-ADNFCR

Share |

Diesel fuel card news: Kazakhstan is considering oil route to Europe