Kazakhstan Outlines Oil Industry Development Priorities at CERAWeek
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As part of the international energy conference CERAWeek, a delegation from Kazakhstan took part in the session "Global Oil Market Outlook: Fundamental Factors and Geopolitical Turbulence", Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During his remarks, the Minister of Energy of the Kazakhstan Yerlan Akkenzhenov presented the current state of Kazakhstan’s oil industry, emphasizing that the country continues to uphold its position as a reliable supplier of energy resources to the global market.
The Minister outlined the key challenges facing the sector, including energy security issues, in particular the need to ensure the stable operation of the Caspian Pipeline Consortium (CPC), which handles the majority of Kazakhstan’s oil exports. He stressed the importance of maintaining uninterrupted operations along this route, given its critical role in the national economy.
Particular attention was also given to improving the investment climate in the oil and gas sector. The Minister highlighted the implementation of the Enhanced Model Contract, which provides tax incentives and is designed to attract new investments into geological exploration and hydrocarbon production.
Strategic plans for the development of the petrochemical industry were also presented. Kazakhstan intends to double its oil refining capacity, which will not only meet domestic demand but also strengthen the country’s position as a supplier of petroleum products in the Central Asian region.
In addition, on the sidelines of CERAWeek, Minister Akkenzhenov held meetings with U.S. Secretary of Energy Chris Wright and senior executives of major American oil and gas companies.
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Governor of the National Bank of Hungary Highly Commends Kazakhstan’s State Development and Economic Reforms
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A meeting was held between the Ambassador of the Republic of Kazakhstan to Hungary Abzal Saparbekuly and the Governor of the Central Bank of Hungary Mihály Varga. During the discussion the parties reviewed the current state and prospects of Kazakh-Hungarian cooperation. Particular attention was given to economic interaction, including cooperation between central banks, as well as the development of bilateral investment ties, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The Ambassador of Kazakhstan noted the steady progress in partnership between the two countries and emphasized interest in expanding cooperation in the banking sector, including the involvement of Hungarian financial institutions in projects in Kazakhstan. The diplomat also informed about the recent referendum in Kazakhstan and its significance for further strengthening the democratic development of the Republic of Kazakhstan.
In turn, the Governor of the Central Bank highly commended the results of the referendum and Kazakhstan’s achievements in democratic development. He also positively noted the current level of cooperation with the National Bank of Kazakhstan and financial regulators in the field of monetary policy, expressing readiness to deepen professional dialogue and exchange best practices aimed at ensuring financial stability and sustainable economic growth.
Following the meeting, both sides confirmed their mutual interest in further developing constructive cooperation and maintaining regular contacts between the relevant institutions of the two countries.
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Trade turnover between Kazakhstan and Russia nears $30 billion
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Russia remains one of Kazakhstan’s key trade and economic partners, Kazakhstan’s Prime Minister Olzhas Bektenov said during a meeting with his Russian counterpart Prime Minister Mikhail Mishustin, Qazinform News Agency reports.
The state visit of the President of Kazakhstan to Russia, which took place in November last year, gave a new impetus to cooperation. We are paying special attention to the upcoming state visit of President of the Russian Federation Vladimir Putin to Kazakhstan. We are preparing and are confident that this visit will contribute to the further deepening and expansion of allied relations between our countries. Russia has traditionally been one of the main trade and economic partners of our country, noted Bektenov.
According to him, trade turnover between the two countries has nearly reached the $30 billion mark, with mutual investment flows continuing to grow.
Over the past 20 years, Russian business investments in Kazakhstan’s economy have exceeded 28 billion US dollars. In turn, Kazakhstani businesses have invested around 9 billion US dollars in the Russian economy over the same period, said the Prime Minister.
In addition, Russian businesses are actively operating in Kazakhstan, with more than 22,000 enterprises involving Russian participation registered - almost one-third of all companies with foreign participation.
This represents a very significant presence of Russian business, and we welcome it. We are ready to consider new areas of cooperation. I am confident that all the necessary conditions exist for this. The Government of Kazakhstan is prepared to make every effort to intensify and enhance our cooperation, added Bektenov.
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Kazakhstan’s New Constitution Opens New Investment Opportunities for Czech Business
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Participants of the business seminar entitled "Prospects for Trade and Economic Cooperation between the Czech Republic and the Republic of Kazakhstan" were among the first representatives of the Czech public to be briefed on the outcome of the national referendum and the adoption of Kazakhstan’s new Constitution. The event brought together members of the Czech business community, industry associations, and the expert community and was organized by the consortium "CZ - Czech Municipal and Energy Technologies" in cooperation with the research institute "FONTES RERUM", with the support of the Embassy of the Republic of Kazakhstan in Prague, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
Alongside Ambassador Kairat Abdrakhmanov, the seminar featured remarks by prominent Czech economist and politician, former Minister of Industry and Trade Jan Mládek, distinguished diplomat and former Minister of Foreign Affairs of the Czech Republic, as well as former President of the United Nations General Assembly Jan Kavan, Head of the organizing consortium Zdeněk Zbytek, Vice President of the Confederation of Industry of the Czech Republic František Chaloupecký, and Deputy Chairman of the Board of Directors of the Export credit insurance company "EGAP" Marek Dlouhý.
The seminar provided Czech entrepreneurs with an overview of the key directions of Kazakhstan’s economic reforms, now enshrined in the country’s new Basic Law. Particular emphasis was placed on the Constitution’s provisions prioritizing the development of human capital, education, science, and innovation, as well as safeguarding all forms of property and upholding the principles of international law. The implementation of the economic reform agenda is expected to enhance Kazakhstan’s investment and trade potential, streamline administrative procedures, and strengthen the accountability of the executive branch.
Participants underscored the important role of Czech companies and development institutions in advancing Kazakhstan - Czech trade and economic cooperation, promoting mutual investment, and facilitating the adoption of modern technologies. The implementation of concrete projects, including those agreed in previous years, is gaining particular relevance in the context of preparations for upcoming high-level engagements between Kazakhstan and the Czech Republic, as well as major bilateral business forums.
The seminar built on a series of prior engagements between Kazakh diplomats and Czech business representatives, as well as working visits to leading technological and industrial enterprises across various regions of the Czech Republic, during which priority areas for further partnership development were identified.
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Kazakhstan is at the Center of the International Energy Dialogue
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Kazakh Ambassador to Finland Azamat Abdraimov took part in the International Forum "Energy Week", held on March 16-19, 2026 in the city of Vaasa, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The Forum brought together representatives of foreign countries, business and experts to discuss issues related to energy sector development, including renewable energy sources, smart energy systems, gas energy and energy storage technologies. Special attention was paid to digitalization, battery technologies, circular economy, smart cities, regulation of the energy sector and the development of innovative business.
The Kazakh diplomat spoke at the opening ceremony of the Forum, highlighting achievements of Kazakhstan in the energy sector with a focus on sustainable development and identifying potential areas for further international cooperation.
During the Forum, meetings were held with Mayor of Vaasa Tomas Häyry and business representatives to discuss opportunities for expanding bilateral cooperation and implementing joint projects.
The Ambassador also visited the production facilities of the Finnish company Wärtsilä, a global leader in the energy sector, where he met with Vice President Kenneth Engblom. The discussions focused on prospects for introducing advanced technologies into Kazakhstan’s energy sector.
Participation in the Forum confirmed the country’s interest in strengthening international cooperation in the energy sphere and promoting innovative technologies.
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Kazakhstan and Georgia Discussed the Development of Investment Cooperation
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Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of Kazakhstan, met with Levan Diasamidze, Ambassador of Georgia, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the talks, prospects for developing bilateral cooperation in the fields of agriculture, logistics, and tourism were discussed.
The parties discussed opportunities for further development of trade, economic, and investment relations, particularly issues related to expanding cooperation through mutual participation.
Participants paid special attention to discussing projects on the logistics infrastructure of the Trans-Caspian International Transport Route (Middle Corridor), as well as agro-industrial cooperation projects.
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Kazatomprom’s uranium sales up 11% in 2025
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President Kassym-Jomart Tokayev held a meeting with Kazatomprom Chairman Meirzhan Yusupov, focusing on the 2015 results as well as future plans, Qazinform News Agency cites Akorda.
Yusupov said Kazatomprom accounted for 13,500 tons of uranium out of the holding’s total output of 25,800 tons in 2025. The company’s uranium sales rose 11 percent to 18,500 tons.
He added geological exploration work is underway as part of the broader effort to boost the country's mineral resource base following the directives from the head of state. The company expanded its portfolio with six new promising uranium sites on the area of over 1,000 square kilometers amidst the goals to bring total investments in exploration to 75-85 billion tenge by 2030.
As part of its social commitments in uranium mining regions, the company allocated up to 11 billion tenge for socio-economic development programs, including 6 billion tenge under the contracts, in 2025.
Its 2025-2034 development strategy eyes new markets, as last year contracts on uranium supplies were signed with AxpoPower AG (Switzerland) и ČEZ Group (Czech Republic), as well as Japan’s Kansai Electric Power Co., Inc.
Currently, Kazatomprom is working to secure a long-term contract to supply uranium ore concentrates to India. While boosting its efforts in research and innovation, the company has developed the Science and Technology Development Strategy 2034, aimed at enhancing production efficiency, mitigating environmental impact, and adopting advanced technologies.
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