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Article: Oil Producers Resigned To Domestic Quotas.(Brief Article)(Statistical Data Included)
- Article from:
- NEFTE Compass
- Article date:
- January 27, 2000
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Much to their frustration, foreign oil producers are resigned to the prospect of supplying part of their production this year to the domestic market.
At a meeting last week with senior government officials, the leading oil companies in Kazakstan were told they had no choice but to stick to the quota system introduced by Prime Minister Kosymzhomart Tokaev. This means that some producers will have to sell more than 20% of their projected output this year at state-regulated prices (NC Jan. 13,p1).
Worst hit by the domestic quotas are the smaller producers who are desperate for the extra dollars gained from crude exports. Insiders say the chief ...