Oil and gas giant Shell will suspend investments in Kazakhstan during ongoing legal proceedings with the government, according to CEO Wael Sawan. He said multiple lawsuits filed by the republic, totaling billions of dollars, are reducing the company’s willingness to continue investing in the country. Kazakhstan is currently involved in…
China’s Hong Kong–based Sino-Science Oil and Gas Co. Ltd., also known as Geo-Jade Petroleum, plans to produce up to 1 trillion cubic meters of natural gas from the Sozak field in southern Kazakhstan, according to Sultangali Kinzhakulov, CEO of Kazakh Invest. Kinzhakulov said the project involves reinvesting profits earned by…
In January, shares of Kazatomprom traded on Kazakhstan’s KASE and AIX exchanges rose 49.5%. The uranium giant led all Kazakhstani firms in both share price growth and trading volume, economist Arman Batayev said on his Telegram channel. Policy shifts boost nuclear outlook Batayev attributed the rally to foreign policy and…
Kazakhstan’s second nuclear power plant (NPP), to be built by China National Nuclear Corporation (CNNC), will also be located in the Zhambyl district of the Almaty region, according to a government decree dated Jan. 26. Russia awarded first nuclear project Kazakhstan’s first NPP will be built by Russia’s state-owned nuclear…
Kazakhstan’s Energy Minister Yerlan Akkezhenov said production at the Tengiz oil field is being restored in stages, with full output expected to resume within a week. Fields restarting after fire Speaking on the sidelines of Parliament, Akkezhenov said production at the Korolevskoye field has already been fully restored. He added…
Energia Semirechya, a company with predominantly Chinese ownership that operates the Shelek-1 wind farm in the Almaty region, southern Kazakhstan, reported a net loss of 3.28 billion tenge ($7 million) in 2024. Losses widen despite growing revenue The wind farm was launched in 2022, but the company has failed to…
The resumption of operations at the CPC Black Sea terminal and the expected restart of oil production at Tengiz have pushed oil prices lower. Positive news about the recovery of Kazakh oil supplies was strong enough to overshadow concerns over the winter storm that hit a large swath of the…
According to Bloomberg, shareholders of the Karachaganak oil and gas project have lost an international arbitration dispute with the Kazakh government, meaning they may be obliged to pay $2 to $4 billion in compensation to the country. The court sided with the Kazakh government, which argued that the Karachaganak project…
Gold prices rose above $5,000 an ounce for the first time, continuing a historic rally that has pushed the metal up more than 60% in 2025, according to the BBC. This surge is occurring amid growing geopolitical and financial uncertainty, driven by tensions over Greenland and concerns about U.S. trade…
Laramide Resources Ltd., a Canada-based uranium producer, has announced that it is withdrawing from its uranium project in Kazakhstan due to legislative amendments adopted at the end of 2025. Under the new rules, foreign investors have fewer rights, with priority given to the national uranium company Kazatomprom. «Laramide to abandon…
Shares of Kazatomprom, the world’s largest uranium producer, continue to reach new highs, driven by surging demand for reliable electricity and a constrained global supply of uranium, according to financial consultant Daur Imanmadirov. On Jan. 20, 2026, Kazatomprom shares on the Kazakhstan Stock Exchange rose to 37,600 tenge ($74) per…
Oil production at the Tengiz and Korolevskoye fields in Kazakhstan has been temporarily suspended due to power supply disruptions, according to operator Tengizchevroil (TCO), a subsidiary of U.S.-based Chevron. Tengiz is the country’s largest oil field. TCO said the shutdown was prompted by an incident affecting parts of the power…
KazMunayGas (KMG), Kazakhstan’s state-owned oil and gas company, rerouted 300,000 tons of oil in December 2025 amid restrictions on operations at the Caspian Pipeline Consortium (CPC). The company said the oil was redirected through the KazTransOil pipeline system for delivery to Germany, China, and via the Baku-Tbilisi-Ceyhan (BTC) route, as…
The U.S. Treasury Department’s Office of Foreign Assets Control has extended until Feb. 28 a license allowing negotiations for the sale of Lukoil International GmbH, the entity that owns Russian oil giant Lukoil’s foreign assets. The extension was reported by Interfax. Any deal, however, must comply with U.S. national security…
The Kazakh government has announced the start of a new phase of mineral exploration, committing 240 billion tenge, about $500 million, over the next three years to geological research. For comparison, that figure exceeds total investment in the sector over the past 15 years, which amounted to $469 million, according…
In a parliamentary inquiry, the Ak Zhol faction claimed that the government is unprepared for complex international disputes surrounding the country’s largest oil and gas projects. Prime Minister Olzhas Bektenov responded to the claim. What is the gist of the complaint? According to the party’s estimates, the country is losing…
Finance ministers from the G7 and several other major economies met in Washington to discuss ways to reduce their dependence on rare earths and other critical minerals from China, including possible price-stabilization mechanisms and new partnerships to develop alternative supplies, Reuters reported. The meeting, convened by U.S. Treasury Secretary Scott…
TotalEnergies has announced that Chinese firms Shanghai Institute of Mechanical and Electrical Engineering and Shanghai Electric Group, along with Kazakhstan-based GCD Partner, have joined a consortium of contractors tasked with designing and building the 1-gigawatt Mirny wind farm in Kazakhstan’s Zhambyl region. Project ownership and partnerships TotalEnergies holds a 60%…
Kazakhstan’s copper-mining giant Kazakhmys is preparing for a change in shareholders, the company announced. Agreement reached between current leaders According to the statement, Kazakhmys President Vladimir Kim and Chairman of the Board of Directors Eduard Ogay have mutually agreed to transfer ownership. The formal sale and purchase agreement is expected…
Russian President Vladimir Putin has authorized Rosneft-Shell Caspian Ventures Limited — a joint venture between Russia’s Rosneft and Britain’s Shell, which holds a 7.5% stake in the Caspian Pipeline Consortium (CPC) — to conduct transactions involving its share in the pipeline. The order was published on the Russian government’s official…
Kazakhstan plans to deliver 50,000 tons of oil to China in December 2025 directly from the Kashagan field, following damage to the Caspian Pipeline Consortium terminal caused by a Ukrainian drone strike in November, according to Reuters. The shipment will move through the Atasu-Alashankou pipeline. The oil is produced at…
Meirzhan Yussupov, CEO of Kazatomprom — Kazakhstan’s state-owned uranium producer — says it is appropriate for the national company to automatically receive a 90% stake in uranium mining projects upon contract renewal, regardless of the foreign partner’s previous share. Amendments advance in parliament Amendments to Kazakhstan’s Subsoil and Subsoil Use…
The latest attack on the Caspian Pipeline Consortium (CPC) by Ukrainian naval drones — and the resulting partial shutdown of its terminal in the Russian port of Novorossiysk, which carries more than 80% of Kazakhstan’s oil exports — underscores how vulnerable Kazakhstan’s oil exports are due to the country’s systemic…
The partial shutdown of the Caspian Pipeline Consortium (CPC) terminal in Novorossiysk, Russia, after a Nov. 29 attack by Ukrainian naval drones, highlights Kazakhstan’s ongoing export vulnerabilities. The terminal, which handles over 80% of Kazakhstan’s oil exports, now has its Offshore Mooring Terminal-3 (OMT-3) out of service, while OMT-2 has…
