Power Up: O&G and uranium feel the Kazakhstan political heat, coal slips under the radar

Power Up: O&G and uranium feel the Kazakhstan political heat, coal slips under the radar

It’s been a tense week for the oil sector, with Kazakhstan’s Tengiz oil field disrupted by protests over a spike in LPG prices.

Tengiz has a nameplate capacity of 600,000 b/d, which is expected to reach 850,000 b/d from around 2024, but Argus reports that the Chevron-led Tengizchevroil (TCO) consortium is gradually restoring production after it was forced to reduce output by an ‘unspecified amount’.

“Public unrest in Kazakhstan provides just the latest example of the political sensitivity of fuel prices, a dynamic which provides a tailwind to oil demand and influences energy policies throughout the world,” S&P chief geopolitical advisor Paul Sheldon said.

It boils down to the company’s geographic position near Asian markets and its resources – it has gas reserves of more than 2 trillion cubic metres and accounts for around 40% of the world’s uranium supply.A new government is expected to be appointed soon – which might […]

About the author: StockMan
Tell us something about yourself.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet