Another milestone achieved in maturation of KGP Project
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Karachaganak Petroleum Operating B.V. (KPO) and its shareholders are pleased to announce the achievement of another milestone in the maturation of the 4BCMA Karachaganak Gas Plant (KGP). The Consortium led by Hyundai Engineering Co. will commence Early Engineering work.
The KGP project is a strategic initiative that is important to Kazakhstan’s energy self-sufficiency and to the longevity of the KPO’s production operations. It reaffirms KPO shareholders commitment to contribute to the development of Kazakhstan energy sector, economic growth and sustainable benefits for all stakeholders.
KPO and its shareholders remain dedicated to close cooperation with the Republic of Kazakhstan to further explore all parameters essential to assess the KGP project viability.
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Gold futures rise to new record high of $3,450 per troy ounce
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The price of gold futures for June 2025 hit a fresh record-high on Monday trading in New York, rising above $3,450 per troy ounce, Comex data shows, TASS reports.
As of 2:18 a.m. Moscow time on Tuesday (11:18 p.m. GMT on Monday), gold rose 1.72% to as high as $3,451,3 an ounce. By 2:25 a.m. Moscow time, the precious metal pared gains to trade at $3,449.5 per ounce (a 1.61% rise).
Earlier, gold futures at COMEX, a division of the New York Mercantile Exchange (NYMEX), renewed its all-time high, rising above $3,435 per ounce. On 4:08 p.m. Moscow time (1:08 p.m. GMT) on April 21, they surged 1.25% to as high as $3,436.6 per troy ounce.
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International tourists spend over USD 2.6 bln in Kazakhstan in 2024
Tourism is regarded as one of the priorities to have Kazakhstan’s economy diversified, Kazinform News Agency cites the Kazakh Tourism and Sports Ministry.
International tourist arrivals also contribute to the development of tourism-related industries. Expenditures by an international inbound traveler within Kazakhstan stand at 1,200-1,500 US dollars.
Last year, international tourists spent over 2.6 billion US dollars in Kazakhstan.
Tourists from China spent the most compared to other nationalities while traveling to Kazakhstan, up to 307 million US dollars, German tourists’ expenditures made 56 million US dollars, while visitors from Turkiye and the U.S spent 53 million US dollars and 47 million US dollars respectively.
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Kazakhstan to reduce special tax regimes
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Deputy Prime Minister - National Economy Minister Serik Zhumangarin announced special tax regimes will be improved in Kazakhstan, Kazinform News Agency reports.
One of the most debated issues of the draft Code is special tax regimes. The number of special tax regimes will be reduced from the current seven to three, he told the Majiis session.
In particular, a new privileged regime will be applied for self-employed workers, a special tax regime on the basis of simplified declaration, and a special tax regime for farms households.
As earlier reported, the Kazakh Government suggested reducing the VAT accounting threshold to 40 mln tenge.
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Price of Brent oil down below $64 per barrel on ICE for first time since April 26, 2021
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The price of futures contracts of Brent crude oil for June 2025 delivery has dropped below $64 per barrel on London's ICE for the first time since April 26, 2021, according to trading data, TASS reports.
As of 1:09 a.m. Moscow time (10:09 p.m. GMT, Sunday) the Brent price was down 2.41% at $63.97 per barrel.
By 1:27 a.m. Moscow time (10:18 p.m. GMT, Sunday) the price of Brent futures contracts had extended losses to 3.25% reaching $63.45 per barrel. Meanwhile, the price of futures contracts of WTI crude oil for May delivery was down by 3.36% at $59.92 per barrel.
The continued drop in oil prices follows an April 3 statement by OPEC, which announced that eight OPEC+ member countries would accelerate production growth in May to 411,000 barrels per day, up from the initially planned 135,000 barrels per day.
According to experts interviewed by TASS, the decision aligns with the current balance in the oil market. The situation is favorable enough for the alliance to begin restoring previously reduced production volumes, despite the ongoing decline in prices.
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Domestic tourism grows by 44% in Kazakhstan over 5 years
Kazakhstan’s domestic tourist flow grew to 9.6 million in 2023 from 6.7 million in 2019, Kazinform News Agency cites the National Statistics Bureau.
After the fall in 2020, domestic tourism of Kazakhstan rebounded, surpassing pre-pandemic levels in 2021. Last January-September, the country's hotels welcomed 6 million domestic travelers.
The Almaty mountain cluster and Shchyuchinsk resort area remain the most popular places to go. Last year the said regions ranked among the top three priority destinations.
Among the most popular tourist areas in Kazakhstan are the Almaty mountain cluster, Shchyuchinsk resort area, Mangistau resort area, Alakol resort area in Zhetsyu and Abai regions, Balkhash resort area which recorded a rise in tourists by 17% against the last year.
Kazakhstan’s domestic travelers rose to 8.6 million people since 2022, while outbound tourism reached 7.7 million.
The number of domestic visitors was 6,657,500 in 2019, 4,463,200 in 2020, 6,910,100 in 2021, 8,607,600 in 2022, and 9,569,700 in 2023 and is projected to rise as high as 10.5 million in 2024.
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