Kazakhstan maintains Oil Production Forecasts for 2009

    Kazakhstan has not revised forecasted oil production for this year, despite the change in price conditions, the Minister of Energy and Mineral Resources Sauat Mynbayev reported on June 17.
    "No, in terms of volumes we're not changing the forecasted production" said Mynbayev in interview to journalists in response to a question about the possibility of increasing oil production, due to the increase in oil prices.
    Since the beginning of summer, oil prices rose to levels above 70 dollars per barrel after a long fall from the end of last year to below $50.
    However, as Mynbayev said, the ministry expects production of 75 - 76 million tons of oil this year, IA Novosti-Kazakhstan reports.