Kazakhstan doubles oil exports to the U.S. and ramps up supplies to Germany

From January to August, Kazakhstan’s exports of crude oil and gas condensate to the U.S. amounted to 1.343 million tons ($843.3 million), a 2.2-fold increase in volume and a 2.4-fold increase in money compared to the same period last year, Kazakhstan’s State Revenue Committee reported.

The published data indicates that total oil exports from Kazakhstan from January to August reached 47.8 million ($29.6 billion), which is a 0.4% increase in volume and a 6.23% increase in value over January-August of 2023.

Italy kept its status of the largest importer of Kazakhstani oil, acquiring 20.3 million tons of crude oil and gas condensates for $12.8 billion over the reported period. These figures represent a 29.3% increase in volume of imports and a 38.07% increase in value over the same period last year. Among other importers who ramped up their imports from Kazakhstan are Germany — this country acquired 992,800 tons of oil (3.44-time increase) for $616.3 million (a 3.71-time increase); India — 486,200 tons (+84.5%) worth $304.8 million (+67.29%), Greece — 2.9 million tons (+47.7%) worth $1.8 billion (+57.76%) and the Netherlands — 4.6 million tons (+0.1%) worth $2.9 billion (+13.92%).

At the same time, several traditionally large importers of Kazakhstani oil purchased less oil than they did the previous year. For instance, over the first eight months of the year, Israel bought only 93,900 tons of oil (-83.2%) worth $58.7 million (-82.77%), South Korea — 1.4 million tons (-70.3%) worth $899 million (-70.17%), Singapore — 1.3 million tons (-46%) worth $651.6 million (-43.01%), Turkey — 1.4 million tons (-34.2%) worth $842.2 million (-31.33%), China — 2.6 million tons (-36.2%) worth $1.7 billion (-34.3%) and Romania — 2.5 million tons (-25.2%) worth $1.4 billion (-21.56%).