Kazakhstan’s oil production is expected to grow in 2025, but lower hydrocarbon prices could reduce export revenues, according to Halyk Finance.
«By mid-2025, the Future Growth Project (FGP) at the Tengiz field is expected to be fully operational. As a result, oil production at Tengiz is projected to increase by 24.8% year-on-year (YoY), reaching 34.7 million tons compared to 27.8 million tons in 2024, which should positively impact export figures… However, the predicted decline in oil prices will offset these gains,» analysts from Halyk Finance stated.
According to Bloomberg’s consensus forecast, the average price of...