KazMunayGas (KMG), the national oil company in Kazakhstan, has suspended work on the Kalamkas-Sea and Khazar fields in the Caspian Sea, which it has been developing in conjunction with Russia’s Lukoil, a company targeted by Western sanctions, Interfax reported. The news was officially confirmed by KMG CEO Askhat Khasenov. «We…
Hong Kong-based Chinese company Jiaxin International Resources reported a profit of $40 million, reversing a $22.5 million loss in 2024. The turnaround follows the launch of a tungsten ore processing plant at the Boguty deposit in southern Kazakhstan — the world’s fourth-largest tungsten reserve — according to Interfax, citing the…
Kazakhstan is no longer considering the construction of a natural gas processing plant (NGPP) at Karachaganak under the final production sharing agreement (FPSA), according to PSA, the country’s authorized body overseeing the project. According to PSA, construction of the NGPP by the project operator is impractical from a technical, commercial…
China’s National Oil and Gas Exploration and Development Corporation (CNODC) has continued filing lawsuits in Kazakh courts seeking to invalidate an April 8, 2025, order by the Ministry of Energy that revised tariffs for transporting Russian oil through Kazakhstan to China. The development was disclosed in financial statements from KazTransOil,…
The Chinese company Xiamen Tungsten Co., Ltd. has established a subsidiary in the Astana International Financial Centre (AIFC) — Xiamen Tungsten Hanyuan Resources Co., Ltd. — according to Finmentor.kz author Arman Batayev. Previously, Xiamen Tungsten sought to gain control of the largest tungsten deposit in Kazakhstan’s Karaganda region. Operations and…
To curb rising oil prices amid escalating tensions in the Middle East, the U.S. will release 172 million barrels of oil from the Strategic Petroleum Reserve, US Energy Secretary Chris Wright announced. Coordinated release with IEA partners In a statement, Wright said that 32 member countries of the International Energy…
During the second Nuclear Energy Summit in Paris, Emmanuel Macron called on Kazakhstan to increase uranium exports to the European Union. The French president said additional supplies would help Europe meet its goal of expanding nuclear fuel production as part of its long-term energy strategy. Read also: Kazakhstan holds enough…
Yerlan Akkenzhenov, Kazakhstan’s energy minister, said he expects global oil prices to remain around $80 per barrel but noted that a significant increase could bring major additional revenue to the country. Speaking about possible market scenarios, Akkenzhenov said that if oil prices reach $100 per barrel, Kazakhstan could receive about…
Authorities in the Philippines are considering introducing a four-day workweek as part of efforts to reduce fuel consumption, according to a report by The Guardian. Read also: The 4-day week is a global hit — so why aren’t Kazakh employers buying in? The proposal comes as global fuel prices rise…
KazMunayGas (KMG), Kazakhstan’s national oil and gas company, reported a record surge in its share price. During trading on the Kazakhstan Stock Exchange (KASE), the stock rose 11.32%, or 2,900 tenge, reaching 29,000 tenge ($58.19) per share. This was the first trading session since the U.S. and Israel launched attacks…
Kazakh analysts are divided over how escalating tensions between Iran, Israel and the U.S. could affect Kazakhstan’s economy, particularly oil prices and export opportunities. Read also: Uranium and oil dip costs Kazakhstan a massive $4.1B. Some experts believe global markets have already priced in geopolitical risks, making a sustained rise…
Kazakhstan may begin supplying horse meat to Japan later this year, according to Zhanibek Kenzhebayev, chairman of the Turan Livestock Association and owner of a farm with 3,000 horses. «We plan to begin supplying horse meat to Japan, possibly in May or June 2026, if direct flights are available,» Kenzhebayev…
Kazakhstan’s Ministry of Energy supports a proposal to abolish incentives for renewable energy development projects, Deputy Energy Minister Sungat Yessimkhanov said. Shift from support to market parity Yessimkhanov said government incentives were justified during the early stages of renewable energy development but may no longer be necessary. By the end…
Many Western policymakers see tariffs and anti-subsidy actions as effective ways to chip away at China’s dominance in manufacturing. That assumption may offer political reassurance, but it misreads the foundations of China’s industrial strength, argues tech entrepreneur and writer Robin Rivaton. Industrial density over national champions According to Rivaton, China’s…
Kazakhstan’s foreign trade turnover in 2025 totaled $143.8 billion, up 1.3% from the previous year, according to data from the Bureau of National Statistics. Read also: Ukrainian drone attack on CPC could wipe $1.5 billion from Kazakhstan’s revenue. At the same time, the country’s exports fell 3.2% to $79 billion,…
Kazakh company Severny Katpar, a subsidiary of Tau-Ken Samruk (TKS), presented a mining project at a public hearing on Feb. 10 for development of the North Katpar deposit in the Shet district of the Karaganda region. According to the presentation, total revenue from the sale of tungsten trioxide, molybdenum, copper…
Documents related to the construction of Kazakhstan’s first nuclear power plant are in the final stages of approval, including financing arrangements. Alexey Borodavkin, Russia’s ambassador to Kazakhstan, announced the update in an interview with Russia 24. The agreement outlines the project’s organizational, legal and technical framework. A second set of…
With the new Tax Code that took effect in 2026 and related policy changes, Kazakhstan is significantly tightening taxation requirements for mining companies, according to a MINEX Kazakhstan forecast for 2026. The report highlights rising taxes on uranium and gold mining as market prices for the metals increase. Read also:…
In late January, authorities in the Democratic Republic of the Congo (DRC) notified mining companies operating in the country that they must allocate 5% of their shares to local employees, according to Bloomberg. The requirement applies to Eurasian Resources Group (ERG), a Kazakh mining holding company that produces copper and…
Kazakhstan is willing to supply 20 of the 60 minerals considered critical to the U.S., Kazakh Foreign Minister Yermek Kosherbayev said during the first ministerial conference on critical minerals in Washington, according to the Kazinform news agency. Delegations from more than 50 countries attended the conference last week. During the…
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…
