Macroeconomic situation vs developmental trends in crude oil production and trade: the case study of Kazakhstan

Bc. Beknur Alipbek, BS

Master's thesis

Abstract:

The oil industry is the leading branch of the global fuel and energy industry. Namely in Kazakhstan, where the oil industry is one of the most important sectors of its economy. This thesis analyzes the country's macroeconomic performance and trends in crude oil production and trade. It is interesting to observe the role of the oil and gas business in the modern economy, based on the current trends in the development of oil and gas production. The thesis also examines the current state and development prospects of the oil and gas sector of the Republic of Kazakhstan. The development of oil trade in Kazakhstan is considered and the main importers of Kazakhstan's crude oil are identified. Then, using the data for 2000-2019, a regression analysis is performed to determine whether there is a relationship between the endogenous variable Volume of oil and gas production and exogenous variables: GDP, billions of US dollars; Inflation%; Unemployment%; Foreign direct investment, billion dollars; Central Bank interest rate (weighted average for the year); External debt level (USD billion). The obtained values show that the strongest influence on the volume of oil and gas production in this case is the value of GDP.

Keywords

Kazakhstan, Crude oil production, Macroeconomic indicators, Regression analysis, Trade

Language used: English

Date on which the thesis was submitted / produced: 31. 3. 2021

Thesis defence

• Supervisor: Mgr. Elena Kuzmenko, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / Economics and Management