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22 stories about Kazakhstan: oil, gas and energy, newest first. This page updates by itself with every new story.
KazMunayGas (KMG) Management Board Chairman Askhat Khassenov met with China National Petroleum Corporation (CNPC) President Zhou Xinhuai in Astana to discuss joint projects in oil production, refining, pipelines and gas development, KMG's press service said. The report was carried by Qazinform News Agency.
An international arbitration court has ruled invalid Kazakhstan's claims worth about $12 billion against major oil companies that are shareholders in the North Caspian Operating Company (NCOC), which develops the Kashagan field on the Caspian Sea shelf. The claims concerned disputed development costs, according to Bloomberg, citing sources familiar with the situation.
China Huadian Overseas Investment is continuing construction of a 160 MW combined-cycle gas turbine plant at the Mangistau Atomic Energy Complex (MAEC) in Aktau, Kazakhstan. The investor also plans to build a 500 MW power facility. Vice President Zhou Dehua briefed Mangistau Region Governor Nurdaulet Kylybay on both projects, which are linked to expanding MAEC's capacity.
Energy
Kazakhstan is developing new oil and gas chemical facilities designed to increase the output of polyethylene, butadiene and alkylate. The projects are also intended to strengthen the raw material base of the country's domestic processing enterprises.
KMG International, a subsidiary of Kazakhstan's national oil and gas company KazMunayGas, reported a 73% year-on-year rise in consolidated EBITDA to $469 million in the first nine months of 2026. Net profit reached $269 million, up 219%. The results were supported by refining at Romania's Petromidia refinery and higher retail sales volumes.
The Energy Ministry said the government will decide the fate of a planned fourth oil refinery in Kazakhstan by the end of the year. The move follows tension in the aviation kerosene market, where a shortfall of 500,000 to 600,000 tonnes had long been covered by Russia. Drone attacks and shutdowns at Russian refineries pushed prices up there, and the impact reached domestic air ticket prices.
Five villages in Kazakhstan's Jetisu region, including aul settlements in Panfilov district, have been connected to natural gas. The project to gasify 126 settlements in the region is being carried out jointly by QazaqGaz and the regional akimat under an instruction from the Head of State. Currently 110 cities and villages in the region are gasified, and 16 more are planned to be connected by the end of the year.
World oil prices continue to fall, according to Khabar 24, which cites the 24KZ report. Brent crude has dropped to $108 a barrel and US WTI to nearly $101. Murban Crude is trading around $109, while Kazakhstan's CPC Blend is priced at about $130 a barrel.
The Institute of Nuclear Physics of Kazakhstan and the European Organization for Nuclear Research (CERN) have signed a memorandum on participation in the international DRD1 collaboration, which develops gas detectors, the Kazakh Foreign Ministry reported. The document was signed during a visit by a Kazakh delegation to CERN in Geneva.
Kazakhstan has reached an agreement to resolve a yearslong dispute over costs at the Dunga oil field in the Mangystau Region, the Energy Ministry said in a written response to The Astana Times. The settlement clears the way for a development plan targeting 67.4 million barrels of oil production through 2039.
Altaris Holding Ltd, a holding company of Kazakh businessman Kenes Rakishev, has completed its $304.6 million purchase of the Kazakhstan oil and gas assets of Britain's Nostrum Oil & Gas. The deal, closed on 15 October 2026, ends nearly 30 years of the company's operations in the country. Proceeds will partly repay debt before the remaining business is wound down in stages.
Kazakhstan's CPC Blend crude, which has historically sold below the Brent benchmark, now trades well above it. According to Oilprice, cited by Tengrinews.kz, CPC Blend was priced at $128 per barrel against $109.86 for Brent, a premium of about 16.5 percent. The reversal came in September 2026, and on some days in late September and October the gap exceeded $15–20 per barrel.
Kazakhstan's sunflower oil exports rose 48.5% in January–August to $672.8 million, according to the Agriculture Ministry, as cited by Qazinform News Agency. In volume terms, exports grew 35.9% to 611,400 tons.
Kazakhstan's foreign trade turnover reached $103 billion in January–August 2026, up 12.8% year on year, the Ministry of Trade and Integration reported. Exports grew more than four times faster than imports. Exports totalled $60.4 billion, up 19.5%, while imports rose 4.5% to $42.6 billion, lifting the trade surplus to $17.8 billion from $9.8 billion a year earlier.
Kazakh Prime Minister Olzhas Bektenov held talks in Astana with Cambodian Prime Minister Hun Manet, who arrived on his first official visit to Kazakhstan. The Government's press service told Qazinform News Agency that the two delegations discussed ways to expand trade and economic cooperation. Kazakhstan views Cambodia as an important and reliable partner in Southeast Asia.
The International Monetary Fund projects that Kazakhstan's inflation will fall to 8.2% in 2027, while economic growth is expected to accelerate to 4.9%, according to the IMF's latest World Economic Outlook. The report was released on October 13 at the IMF and World Bank annual meetings in Bangkok.
Kazakhstan's President Kassym-Jomart Tokayev dissolved all local assemblies, or maslikhats, on October 12, and the Central Election Commission called snap elections for November 29. Most maslikhat seats had been held by members of the Amanat party, which was absorbed into the new ruling party, Adilet, in June.
Kazakh President Kassym-Jomart Tokayev said Kazakhstan has shared a plan with Azerbaijan to increase the volume of Kazakh oil transported via the Baku-Tbilisi-Ceyhan pipeline. He made the remarks in a speech at the 7th summit of the Conference on Interaction and Confidence-Building Measures in Asia (CICA) in Baku, which he travelled to on 14 October. Tokayev said the Caspian Sea region is of special importance not only to its own region but to global energy security.
Prime Minister Olzhas Bektenov met with Muataz Al-Hayat and Ramez Al-Hayat, heads of Qatar's Power International Holding (PIH), to discuss joint projects. Gas processing and telecommunications cooperation was on the agenda.
Kazakhstan and Azerbaijan plan to increase supplies of Kazakh oil via the Baku–Tbilisi–Ceyhan pipeline, President Kassym-Jomart Tokayev said at the 7th summit of the Conference on Interaction and Confidence-Building Measures in Asia (CICA) in Baku. He also proposed a water partnership to exchange technologies and jointly tackle water shortages.
Kazakhstan expects to receive nearly 3.78 trillion tenge (US$7.9 billion) from oil-sector organizations for its National Fund in 2027, according to a draft national budget for 2027-2029. Deputies of the Kurultai approved the draft in the first reading on Oct. 14.
Kazakhstan's government has prepared three scenarios for the country's economic development in 2027, with GDP growth ranging from 3.2% to 5.9% depending on oil prices. Presenting a 2027-2029 socio-economic forecast at a Kurultai meeting, Minister of National Economy Serik Zhumangarin said the government expects slower GDP growth among Kazakhstan's main trading partners. International organisations have also lowered their 2027 oil price forecast to $70.3 per barrel.
Turkey's rate cut, Azerbaijan's net-zero strategy, Armenia-Azerbaijan peace treaty timing and Kashagan arbitration ruling in today's Turkic news.
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