In May, Cove Kaz Capital Group LLC completed the acquisition of a 70% stake in Severny Katpar LLC, a Kazakh mining company previously under the umbrella of Samruk-Kazyna, Kazakhstan’s sovereign wealth fund. The asset includes development rights to the North Katpar field, one of the world’s largest tungsten deposits. A…
South Korea’s Hyundai Engineering has announced that it has secured a contract to build the Karachaganak Gas Processing Plant (GPP) in Kazakhstan. The news was first reported by Nurlan Zhumagulov, owner of the Energy Monitor Telegram channel; it was also confirmed by Hyundai Engineering in a post on its LinkedIn…
Kazakhstan could become a storage site for Iran’s uranium stockpiles if Washington and Tehran reach an agreement on a nuclear deal, the FT reported, citing Rafael Grossi, director general of the International Atomic Energy Agency (IAEA). Existing uranium bank Grossi noted that a facility for storing low-enriched uranium (LEU) already…
Planned maintenance work at Kazakhstan’s giant Kashagan oil field could be postponed, according to industry sources cited by PetroCouncil.kz and the energy publication Upstream. The 35-day maintenance campaign, covering both offshore and onshore facilities, was scheduled to begin June 1. Shareholders reportedly weighing postponement According to Upstream’s sources, shareholders in…
Turkish mining company CoreX Holding plans to increase explored resources at the Manka gold deposit in East Kazakhstan from 195,000 ounces to more than 400,000 ounces of gold, according to the company’s annual report cited by qazba.kz. The company plans to begin mining operations at the deposit in 2026 and…
Kazatomprom, the world’s largest uranium producer, reported net profit of 13.9 billion tenge (approximately $27.9 million) in the first quarter of 2026, according to the company’s unaudited financial statements. The figure represents a 56% decline compared with the same period in 2025. Read also: Why KazMunayGas and Kazatomprom are Kazakhstan’s…
Russia will provide Kazakhstan with an intergovernmental export loan to finance the construction of the country’s first nuclear power plant. The total financing package is estimated at approximately $16.4 billion, including about $2 billion allocated for social infrastructure and safety systems. Kazakhstan and Russia signed agreements outlining the key principles…
Kazakhstan’s Agency for Atomic Energy said active construction of the country’s first nuclear power plant will begin in 2027. Read also: Kazakhstan’s nuclear chess: Why China’s CNNC ‘loses’ first NPP, but still wins big. Agency spokesman Shyngys Ilyassov said that during Russian President Vladimir Putin’s ongoing state visit, Kazakhstan and…
Building a fourth large oil refinery in Kazakhstan with an annual processing capacity of 10 million tons could cost as much as $15 billion, including infrastructure expenses, according to Nurlan Zhumagulov, author of the Telegram channel Energy Monitor. Zhumagulov said the estimated price tag is comparable to the cost of…
The share of crude oil in Kazakhstan’s exports fell to a historic low of 44.4% in the first quarter of 2026. Strong growth in the non-oil sector helped offset losses from hydrocarbons, as record prices for copper, silver and sulfur boosted export revenues. Analysts say current geopolitical tensions could further…
The stock performance of Kazatomprom, the world’s largest uranium producer, has recently raised concerns among investors as shares in the national company continue to decline. According to stock exchange data, Kazatomprom shares fell to 32,790 tenge (approx. $70) during the afternoon trading session at 12:12 p.m. on April 21. Shares…
China is expanding its presence in Kazakhstan’s green energy sector, with Chinese companies involved in building a significant share of the solar and wind power plants scheduled to come online. Read also: China takes the lead in Kazakhstan’s renewable energy push. The share of renewable energy sources in Kazakhstan’s total…
Kazakhstan, together with Uzbekistan and Kyrgyzstan, plans to move into the practical construction phase of the Kambarata-1 Hydropower Plant project, according to Jamshid Khodjaev, Uzbekistan’s deputy prime minister. Read also: Kazakhstan to fund massive Kyrgyz dam for energy security. Khodjaev said the 1,860-megawatt Kambarata-1 HPP is expected to become the…
The explosion at the Kazzinc plant in Ust-Kamenogorsk on May 5, 2026, which killed two people, has again drawn attention to the company’s environmental and operational challenges. Kazakh analyst Rassul Rysmambetov, in comments to Kursiv.media, discussed the potential sale of Kazzinc to businessman Shakhmurat Mutalip (on photo) — and why,…
Kazakhstan has no plans to change its format of participation in the OPEC+, the country’s Energy Ministry said. «Currently, the issue of changing the country’s format of participation in the alliance is not on the agenda,» the ministry said in a statement. Market context Reports that the United Arab Emirates…
The United Arab Emirates will withdraw from OPEC and the broader OPEC+ alliance on May 1, ending nearly six decades of membership to pursue a sovereign energy strategy, Gulf News reported. The decision terminates a partnership that began in 1967, allowing the federation to now determine its oil output independently…
Petroleum continues to be a primary driver of international economic stability and political influence. A recent ranking by World Population Review highlights how various nations manage this finite resource, ranging from absolute reliance to strategic diversification. The Middle East powerhouses Saudi Arabia remains a central figure, controlling nearly 17 percent…
Kazakhmys Copper, which consolidates the copper assets of Vladimir Kim, will not delist from the Kazakhstan Stock Exchange. The decision was made by the company’s sole shareholder. The shareholder reversed an earlier decision, announced April 14, to voluntarily delist the company’s shares from KASE. As a result, the shares will…
The escalation of conflict in the Middle East, along with the risk of a closure of the strategically vital Strait of Hormuz, is putting significant pressure not only on global energy markets but also on the economic stability of countries across the region. Amid rising geopolitical uncertainty and the potential…
The price of Kazakhstan’s CPC Blend crude has been declining on global markets. According to the latest data, the benchmark traded at $114.47 on Friday but fell to $112.23 on Monday, April 20. The drop suggests shifting supply-and-demand dynamics and increased investor caution. Middle East tensions weigh on market Ongoing…
Tau-Ken Samruk, Kazakhstan’s national mining company and a subsidiary of sovereign wealth fund Samruk-Kazyna, has agreed to sell a 70% stake in the North Katpar tungsten deposit to U.S.-based Cove Kaz Capital Group LLC. The company said it approved the transaction on April 16. The share purchase agreement for a…
Tajikistan is interested in importing Kazakh grain, flour and sunflower oil, said Nurmahmad Akhmadzoda, director of the Agency for State Material Reserves of Tajikistan. The Ministry of Agriculture quoted him following a meeting with the leadership of Kazakhstan’s Food Contract Corporation (FCC), a state-owned company that regulates the grain market.…
Kazakhstan’s Ministry of Ecology said a court in Astana has upheld a 2.4 trillion tenge environmental fine imposed on a consortium of major international oil companies. The entities, which are part of the North Caspian Operating Company (NCOC), are continuing to appeal the ruling, Bloomberg reported. Supreme Court rejects appeal…
A Chinese mining company has established a new subsidiary in Kazakhstan with a registered capital of $150 million at the Astana International Financial Centre, according to a report by Finmentor. The company, Beijing Huaxia Jianlong Mining Science & Technology Co., Ltd., registered its local entity under the name Tianlong Mining…
