News

Kazakhstan’s open defiance of OPEC+ production cut commitments is raising questions about whether the country may exit the alliance, potentially triggering a painful price war at a time of global market volatility, according to the Reuters news agency.

Kazakhstan’s Energy Minister Yerlan Akkenzhenov told Reuters on Wednesday, April 23, that the country would prioritize national interests over those of OPEC+ when setting oil production levels. That stance suggests Kazakhstan may not comply with agreed-upon production cuts established by the coalition of major oil producers.

Reuters reported that this shift could be a prelude to Kazakhstan’s departure from the alliance...

Speaking at a session of the Assembly of the People of Kazakhstan, President Kassym-Jomart Tokayev emphasized the country’s peaceful and friendly relations with its neighbors, particularly highlighting ties with China, according to the presidential press office.

Tokayev reaffirmed Kazakhstan’s strategic alliance with Russia, calling it the country’s «main strategic partner and ally,» and pointed to the deep historical ties with China.

«The Chinese people have never harmed the Kazakh people and will not do so in the future,» he said.

The president also spoke warmly about Kazakhstan’s other neighboring nations.

«The...

Uzbek authorities have recovered $95 million from Gulnara Karimova’s assets. Previously, the daughter of the late president of Uzbekistan Islam Karimov illegally transferred these funds to Switzerland, as reported by Daryo.uz, citing Deputy Minister of Economy and Finance Otabek Fozilkarimov.

All in all, the Swiss government had agreed to return $131 million within the first tranche, of which $87 million has already been received by Uzbekistan and allocated to the healthcare and education sectors on an equal basis ($43.5 million for each).

Furthermore, Uzbekistan plans to recover an additional $108 million from Belgium, as negotiations between the two countries on...

Kazakhstan’s renewable energy sector is facing a relative decline in its contribution to the national power mix. In the first quarter (Q1) of 2025, renewable energy sources (RES) generated 1.96 billion kilowatt-hours (kWh) of electricity, accounting for 5.93% of the country’s total electricity output. That’s down from 6.43% in 2024, according to the Ministry of Energy.

In Q1 2025, the installed capacity of renewable energy facilities reached 3,082.12 megawatts (MW), broken down as follows:

Between January and March 2025, wind farms produced...

The Ministry of Labor is going to amend the Labor Code, introducing the concept of workplace harassment. The initiative, designed to make work conditions for Kazakhstanis safer, is already available for public consideration in the form of a draft document.

According to the agency, up to 30% of employees face workplace harassment one way or another. Even though Kazakhstan hasn’t ratified the Violence and Harassment Convention of the International Labour Organization (ILO), the country must take all necessary actions to protect workers from violence and harassment, the ministry said.

In order to prevent workplace harassment, authorities suggest obliging employers to...

A new plant designed to produce refrigerators has been commissioned in the Turkestan region, as reported by the region’s administration. The €60 million project was implemented by Zhasyl Suyk Kazakhstan, a subsidiary of the Ukrainian UBC Group. The new plant is now expected to manufacture up to 140,000 fridges per year.

The plant was built on the territory of the Small Industrial Park in the Sauran district. The same location was designated for the production of agricultural drones. The $5 million project, with a capacity of 600 drones per month, is going to be implemented by a big Chinese company.

Speaking at the Assembly of the People of Kazakhstan, President Kassym-Jomart Tokayev reaffirmed the right of citizens to choose their language of communication, warning that any attempt to impose a different one will be met with legal consequences.

He noted that about 80% of high school graduates now take university entrance exams (National Unified Testing) in Kazakh, and more than 70% of first-graders are starting their education in the Kazakh language.

«No one in Kazakhstan has the right to dictate what language people should use in personal communication or public speech,» Tokayev said. «Any provocative actions...

Kazakhstan, which has frequently exceeded its oil production quotas under the OPEC+ agreement, will independently set its output levels in the future, Energy Minister Yerlan Akkenzhenov said in a recent interview with Reuters.

Akkenzhenov emphasized that the ministry will fully support increased production at the country’s largest oil field Tengiz, operated by Tengizchevroil.

«We will act in accordance with national interests. As we work to boost output at TCO (Tengizchevroil), we will support it in every possible way,» he said.

While Kazakhstan remains committed to meeting its OPEC+ obligations, Akkenzhenov said the country cannot afford...

Kazakhstan’s Agency for the Protection and Development of Competition (APDC) has released new details on three active anti-monopoly investigations involving Kazakhtelecom, the nation’s largest telecommunications operator, and its subsidiary Kcell.

Earlier coverage by Kursiv.media, citing a report from Kazakhtelecom, noted that two investigations into the company had been reopened as of early 2025. A third investigation has been ongoing since December 2023.

The APDC said the first case focuses on Kcell and Mobile-Telecom Service (MTS), a former Kazakhtelecom subsidiary sold to Qatar’s Power International Holding for $1.1 billion in January 2025. Both operators are accused of setting monopolistically high prices...

A new tobacco manufacturing plant has been launched in the Kokozek village of the Almaty region, as reported by the region administration’s press service.

The plant was launched by the South Korean company KT&G, which has invested $134.9 million in the project, one of the largest manufacturing sites in the region. Once it reaches its full production capacity, it will be able to export its products to CIS markets and more broadly to many countries across Eurasia.

The government anticipates the plant will annually generate $48.2 million in tax revenue. Currently, the new tobacco factory provides jobs for 130 people...

President of Kazakhstan Kassym-Jomart Tokayev and Chairman of the People’s Council of Turkmenistan Gurbanguly Berdimuhamedow held an informal meeting in Astana. Among a wide range of issues, they discussed the potential role of Kazakhstan in the development of Galkynysh, a giant gas field in Turkmenistan, as reported by the Akorda.

«Particular attention was paid to the expansion of bilateral cooperation in the gas industry, including Kazakhstan’s participation in the development of the Galkynysh gas field in conjunction with foreign partners,» the president’s press service reported.

The state-owned company Türkmengaz started developing Galkynysh in 2009 in...

Kazakhstan’s trade policy development center QazTrade and the Ministry of Trade and Integration have agreed with the Taliban to supply goods worth approximately $140 million to Afghanistan, according to a statement published on the ministry’s official website.

A joint delegation from QazTrade and the ministry recently visited Kabul on a special trade and economic mission. During the trip, the Kazakh delegation showcased product samples from Kazakhstani manufacturers to Afghan officials, including goods from the agribusiness and textile sectors. The companies involved and the details of the contracts were not disclosed.

As part of the mission, QazTrade signed three memorandums of...

Kazakhstani businesses lashed out at the new information system Keden, describing it as imperfect. The system was developed by the Customs Service and was supposed to simplify the import of goods to Kazakhstan. According to market participants, because of the system’s flaws, in some cases, it takes more than a day to simply submit necessary documents, causing financial losses.

These responses are the result of a survey by the National Chamber of Entrepreneurs Atameken. Among those who took part in the survey are customs brokers (50%), carriers and forwarders (46.3%), and those who are engaged in independent declaration (3.7%).

Authorities...

Freedom Finance Global has been studying consumer confidence, inflation and devaluation expectations of residents of Kazakhstan for the twenty-ninth month. March 2025 showed positive dynamics, and the consumer confidence index (CCI) increased from 93 to 95.3 points, demonstrating a slight recovery from the lowest value in the history of the study. Negative responses generally continue to prevail over positive ones. There was a full restoration of favorable conditions for large purchases. At the same time, optimism regarding economic situation forecasts continued to decline. Inflation estimates have declined after four months of continuous growth, although there have been structural changes in...

Kyrgyzstan’s State Committee for National Security (SCNS) has detained Natalia Sekerina, an employee of Russkiy Dom (Russian House) — a branch of Russia’s network of cultural centers abroad — on suspicion of recruiting mercenaries, according to the Azattyk.org news portal.

On April 19, a court in Bishkek ordered Sekerina held in pretrial detention until June 17. She is accused of recruiting individuals to participate in armed conflicts abroad. Authorities have not released further details about the case.

In addition to Sekerina, three other individuals are reportedly involved, including Sergey Lapushkin, a former member of the press service at the Osh...

Kazakhstan is set to launch geological exploration in several areas estimated to hold more than 500 billion cubic meters of natural gas, according to Energy Minister Yerlan Akkenzhenov.

«Kazakhstan has been actively expanding geological exploration in the gas sector. One of our top priorities is increasing the volume of proven hydrocarbon reserves,» Akkenzhenov said during a recent cabinet meeting. «As part of this effort, the national company QazaqGaz is working across 15 subsoil areas currently included in the state subsoil fund management program. Preliminary estimates indicate that total gas resources in these projects amount to roughly...

How has retail trade changed?

How has wholesale trade changed?

What’s next for trade in 2025?

Emerging trends in Kazakhstan’s domestic trade sector during the first quarter (Q1) of 2025 are shaping not only economic growth forecasts but also influencing the National Bank’s decisions. While wholesale trade is showing strong momentum, retail is growing at a more measured pace.

Kursiv Research continues its in-depth analysis of Kazakhstan’s trade sector. Domestic trade often serves as a leading indicator, signaling broader economic shifts before other metrics catch up.

How has retail trade changed?

According to preliminary data from...

Kazakhstan’s national carrier Air Astana has launched its first direct flight from Almaty to Mumbai, with the inaugural service taking off on April 20, the airline announced via its official Telegram channel.

The launch marks a milestone, coinciding with the 20th anniversary of Air Astana’s first flight to India. The new route to Mumbai will operate three times per week — on Wednesdays, Thursdays and Sundays — with a flight time of just under five hours.

The new service not only offers a faster connection for Kazakhstani travelers heading to Mumbai but also positions the city as a convenient transit...

The specialized environmental prosecutor’s office of the West Kazakhstan region has fined Karachaganak Petroleum Operating (KPO) nearly $1.4 million for exceeding emissions limits, according to a statement published on the agency’s website.

KPO, the consortium responsible for developing Kazakhstan’s Karachaganak oil field, reportedly released 264 tons of pollutants into the environment above the legally established quotas.

This fine comes despite KPO’s ongoing reports on its environmental, social and governance (ESG) initiatives. The company has frequently highlighted efforts to reduce carbon dioxide emissions. In 2019, KPO invested $25 million in sensor systems designed to monitor emissions more accurately.

According to its...

Tarik Volkan Oskay, the CEO and managing partner of NEF Real Estate Kazakhstan (NEF Qazaqstan) and a citizen of Turkey, has been placed on the wanted list by Almaty police. The Ministry of Internal Affairs officially added him to the list of wanted individuals on April 19.

In addition to his role at NEF Qazaqstan — known in Kazakhstan for its real estate and commercial property developments — Oskay previously held executive positions at several prominent companies, including the Rixos President Hotel, Sembol Investment & Development, Capital Partners and Almaly Asset Management. In 2014, the latter company was headed by...

Workers from Kasibi Tandau LLC, a Kazakhstani contractor of Tengizchevroil (TCO) at the Tengiz oil field, have gone on strike, demanding a 50% pay increase, according to Ak Zhayik, a weekly newspaper in Atyrau.

Employees of TCO’s transportation department have also joined the strike, seeking a 100% pay increase. The workers have released a video appeal, asking the company not to punish them for their collective statement.

According to Ak Zhayik, TCO workers sent a letter directly to TCO Managing Director William Lacobie, Kasibi Tandau CEO Aynur Smith and the head of COCR, citing rising inflation and soaring prices as...

On April 19, 2024, Kazakhstan effectively banned the sale, production and distribution of electronic cigarettes and vapes. To ensure compliance with the law, authorities introduced high fines and serious penalties — up to five years in prison with property seizure by the government — for violations.

Kursiv.media decided to find out whether it’s still possible to buy a prohibited product, and discovered a full-fledged black market for vapes in the country. For those selling these products, there seem to be no legal barriers they can’t overcome.

What has changed over the year

«I try to save...

As of April 1, Kazakhstani banks possessed refined precious metals worth $93 million. For comparison, this figure was just $39.1 million a year earlier. According to data from the National Bank, the amount has increased 2.4 times, or by 136%, over the year.

That being said, the increase was primarily driven by the rising value of gold. As of April 2024, gold was priced at $60.59 per gram, compared to $96.72 per gram a year later (+59%).

Almost all Kazakhstani banks ramped up their precious metal holdings over the past year. At the start of 2025, these assets stood at...

According to Saltanat Igenbekova, an analyst at Halyk Finance, Kazakhstan’s GDP growth will reach 5.3% by the end of the year, which is 0.5 percentage points higher than the rate at the end of 2024 (4.8%). This forecast is based on the strong performance of the first quarter (5.8%) and the record growth of the short-term economic indicator (SEI; 8.3%).

The SEI reflects the change in the physical production volume in key sectors of the country’s economy and includes more than 60% of Kazakhstan’s GDP. The indicator is calculated in monetary terms. At the end of the quarter, the SEI...