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…
The Development Bank of Kazakhstan (DBK), a subsidiary of Baiterek Holding, may finance two rare earth metal mining projects, Baiterek Managing Director Aidyn Akan told reporters on the sidelines of the MINEX Kazakhstan 2026 forum. Read also: US moves to counter China on minerals with new Kazakhstan pact. Akan said…
In the first quarter of 2026, Kazakhstan’s National Fund, a sovereign wealth fund financed by oil revenues, received 784 billion tenge (about $1.6 billion) from oil companies — an increase of 162 billion tenge compared with the previous year. However, the additional revenue did not offset the 800 billion tenge…
Shareholders of Kazakhstan’s state-owned uranium giant, Kazatomprom, have approved a transaction with India’s Department of Atomic Energy, according to the company’s disclosed corporate filings. Long-term supply agreement The documents indicate that the deal is a long-term contract for the purchase and sale of natural uranium concentrates. Under the agreement, Kazatomprom…
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…
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…
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…
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…
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…
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…
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…
