The North Caspian Operating Company (NCOC), operator of the Kashagan oil field, has lost its appeal of a 2.3 trillion tenge environmental fine in Kazakhstan’s Supreme Court. Oil and gas industry expert Nurlan Zhumagulov said on his Energy Monitor channel that the company is delaying payment pending a decision by…
The Senate of Kazakhstan has approved an agreement with Uzbekistan and Azerbaijan to create a shared corridor for green energy. The project aims to link Central Asia’s energy systems with Europe. Under the plan, electricity will initially be transmitted via a cable across the Caspian Sea to Azerbaijan, then routed…
According to Freedom Holding Corp. (FRHC) partner Vladimir Pochekuev, who also serves as chairman of the board of directors of Freedom Broker Global Markets (UAE) and Freedom Yatirim (Turkey), FRHC is considering acquiring a bank in Armenia. The key obstacle to this move is the relatively high cost of financial…
Kazakhstan’s oil and gas companies are gradually increasing their use of locally sourced materials and suppliers, though progress remains uneven. A former manager at Tengizchevroil (TCO) says internal concerns — including fear of lobbying accusations and inflated pricing by domestic producers — continue to slow broader adoption. Former TCO manager…
Tiryaki Agro Holding, one of the largest agro-holdings in Turkey, intends to build a vegetable oil processing plant in the North Kazakhstan region, the regional administration announced. The plant will be located in the Qyzyljar Special Economic Zone in Petropavlovsk. With a capacity of up to 1,500 tons of product…
Kyrgyzstan has openly expressed frustration that, following the outbreak of the war in Ukraine, European countries sharply increased investment in Kazakhstan and Uzbekistan while largely overlooking Kyrgyzstan, Tazabek reported. Investment concentrated in two countries Kyrgyzstan’s ambassador to Germany, Omurbek Tekebayev, told a parliamentary committee meeting on April 7, 2026, that…
Kazakhstan is planning to launch two plants that will convert coal into diesel fuel, Energy Minister Yerlan Akkenzhenov said at a recent cabinet meeting. Coal-to-chemicals projects expand According to Akkenzhenov, three major coal chemical industry projects are currently underway. These include: A metallurgical coke plant in the Karaganda region with…
South Korea’s chief of staff will visit Kazakhstan and other oil-producing countries to negotiate raw material supplies. The country is suffering difficulties due to delays in oil transit through the Strait of Hormuz, Reuters reported. Kang Hoon-sik will arrive in Astana as a special representative of South Korean President Lee…
The International Finance Corporation (IFC) continues to help Kazakhstan attract private investment, diversify its economy and improve its infrastructure and financial systems, according to Lisa Kaestner, IFC director for Turkey, Kazakhstan and Uzbekistan. «Kazakhstan remains attractive for foreign investment due to its strategic location and resource base,» she told Kursiv.media,…
On April 6, the Kazakhstan Stock Exchange (KASE) launched trading in the currency pairs involving the Arab dirham, the exchange said in a statement. In particular, since April 6, 2026, the official KZT/AED exchange rate has been set on KASE. However, market participants can trade both the AED/KZT pair and…
Kazakhstan has delivered its first batch of halal-certified products to Saudi Arabia after receiving official accreditation, becoming the first country in Central Asia to obtain such certification from the kingdom. Access to a demanding market Saudi Arabia is one of the most stringent markets for halal products, according to KazStandard.…
A hydrocarbon field comparable in scale to the Kashagan oil field could be discovered at significant depths on the Zhylyoi platform, according to Kurmangazy Iskaziyev, first deputy CEO of KazMunayGas (KMG), Kazakhstan’s national oil and gas company. Exploration is expected to target depths of between 5 and 9 kilometers. Large-scale…
Croatia will take part in the exploration and production of hydrocarbons at the Shygys site in the Aktobe region, western Kazakhstan, the Ministry of Energy reported. The contract was signed by the ministry, KazMunayGas and Geoenergija Razvoj d.o.o — a subsidiary of the Croatian Hydrocarbon Agency — during the Geoscience…
According to Kazakhstan’s Ministry of Trade, Chinese company Fujian Hengwang Investment plans to build a large steel plant in the country. The announcement followed a visit to China by Minister of Trade and Integration Arman Shakkaliyev. The company is ready to invest about $1.2 billion in the project, with a…
The Asian Development Bank (ADB) has approved a loan of 90 billion tenge (about $173.6 million) to Kazakhstan’s Otbasy Bank to expand access to mortgages, particularly for women, and to support environmentally friendly housing finance. The funding is part of the «Promoting Inclusive and Green Housing Finance» project. Read also:…
Kazakhstan’s National Bank will consider lowering its base rate once inflation shows a sustained decline both month over month and year over year, and if forecasts are met, Governor Timur Suleimenov said. He noted that in the second quarter, the economy is expected to continue adjusting to the new Tax…
Just over a quarter of online shoppers in Kazakhstan still pay cash on delivery, with that share rising to 57.5% in Astana. At the same time, about half of all e-commerce transactions in the country fall in the range of 25,000 to 100,000 tenge (roughly $50 to $200). Kursiv.media analyzed…
Kazakhstan’s business activity deteriorated in March 2026, with the Freedom Holding Corp. Manufacturing PMI falling to 47.4, reflecting a solid weakening in the manufacturing sector’s health, the most pronounced since 2022. The rate was down from 48.1 in February and remained below the 50.0 no-change mark for a third consecutive…
As of Jan. 1, 2026, Kazakhstan’s external debt stood at $181.8 billion, up $17.2 billion from 2025, according to data from the National Bank of Kazakhstan. At the same time, the increase over the last quarter amounted to $10.4 billion. The regulator attributed the increase in external debt to a…
Samruk-Kazyna plans to cut 11% of its administrative and management staff in Astana, aiming to save about 5 billion tenge (roughly $10.5 million) in salary costs starting in 2026, the fund told Interfax-Kazakhstan. Read also: A house divided: Kazakhstan’s government at odds with its own wealth fund reform. The reduction…
KazMunayGas (KMG), Kazakhstan’s national oil and gas company, is advancing 22 exploration projects with a combined resource base of 4.7 billion tons of hydrocarbons, CEO Askhat Khassenov said. Read also: How $100 oil could pay for Kazakhstan’s nuclear future. Khassenov said the company is pursuing a strategy focused on deep…
Four-legged robots, often called quadrupeds, are gaining traction among AI companies. These robotic «dogs» are now being deployed to guard and patrol sprawling data centers across the U.S., according to a Fortune report. Growing demand for robotic security Tech firms are investing heavily in artificial intelligence infrastructure, with spending approaching…
Japan’s INPEX has signaled its readiness to redirect part of its oil production in Central Asia to the domestic market, according to Yomiuri Shimbun. Focus on Kazakhstan and Azerbaijan assets INPEX holds stakes in the Kashagan oil field and the Azeri-Chirag-Gunashli oil fields. Until now, oil from these projects has…
Profits at microfinance organizations (MFOs) in Kazakhstan fell by nearly half in 2025, while the volume of loans overdue by more than 30 days rose by more than a quarter. Read also: Kazakh banks face 2025 profit dip amid tax and reserve hikes. The sector has grown to a scale…
