Kazakhstan expands its oil exports to the U.S.

From January to September, Kazakhstan’s export of crude oil and gas condensate to the U.S. reached 1.4 million tons, worth $934.2 million, marking a 1.7-fold increase in volume and a 1.8-fold increase in revenue, as reported by the State Revenue Committee under the Ministry of Finance.

According to open-source data, overall oil exports from Kazakhstan grew by 0.7% year-on-year to 53.8 million tons ($33.9 billion) over the first nine months of the year. Italy remains the largest importer of Kazakhstani oil, purchasing 23 million tons (+27.8%) produced in Kazakhstan for $14.9 billion (+41.9%).

The Netherlands acquired 5.5 million tons of oil (+9.2%) during the same period for $3.4 billion (+24%); France imported 4.1 million tons (+21.4%) for $2.6 billion (+26.5%); Greece took in 3.2 million tons (+46.4%) for $2 billion (+57.1%); Romania imported 3 million tons (-14.9%) for $1.7 billion (-10.1%); China received 2.6 million tons (-40.3%) for $1.8 billion (-38.2%); South Korea bought 1.7 million tons (-63.7%) for $1.1 billion (-63.7%); Switzerland acquired 1.5 million tons (+4.5%) for $826 million (+26.3%); Turkey imported 1.5 million tons (-39.3%) for $939.8 million (-35.9%); Spain took 1.38 million tons (-21.8%) for $879.1 million (-16.4%); Singapore received 1.3 million tons (-47.8%) for $687.4 million (-44.6%); and Germany saw a 2.3-fold increase with 1.14 million tons for $709 million (2.4-fold increase).

Kazakhstan’s exports of heating oil also sharply declined to 1.37 million tons for $531.4 million, reflecting a 24.3% decline in volume and a 26.4% decline in revenue. At the same time, Kazakhstan slightly boosted its oil exports to Uzbekistan, delivering 46,100 tons (+4.6%) for $19 million (+7%). Moreover, Uzbekistan has become the only country where Kazakhstan’s exports of heating oil increased, reaching 93,400 tons (+16.6%) for $26.2 million (+47.1%).