The Kazakh government is preparing measures to help the oil and gas sector weather lower oil prices. Prime minister Karim Massimov warned last week that prices are unlikely to rise for some time. “We expect that over at least the next 5-7 years, or maybe more, we will… have to get used to living in a situation where oil prices will be at $30-50/bl,” he said. Kazakhstan’s 2016 budget is based on an oil price of $40/bl.
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