Kazakhstan to increase oil exports to China

ASTANA, Kazakhstan (AA) – Kazakhstan will increase its oil exports to China, announced the Kazakh president on Tuesday during a visit to China.

During his two-day visit to China to attend a conference on Asia confidence building, Nursultan Nazarbayev said the production in Kazakh oil field in the Caspian region would increase to 40 million tons in the long term.

Emphasizing that Kazakhstan exported nearly 13 million tons of oil to China in 2013, Nazarbayev said this amount could be easily increased to 20 million tons in the future.

The Kazakh president added that his country also aims to increase its trade volume with China from US$29 billion to US$40 billion.

China became the world’s second biggest oil importer after U.S. due to its large economic growth over the last 15 years.

Nazarbayev is attending the fourth conference on Interaction and Confidence Building Measures in Asia.

englishnews@aa.com.tr

Copyright © 2014 Anadolu Agency