KazTransOil boost oil transit from Aktau port to Baku
Images | Trend
The volume of transportation of Kazakh oil for export from the port of Aktau amounted to 3.376 million tons from January through 2023, which is 1.108 million tons more than the same period in 2022, KazTransOil JSC (an oil pipeline company of the Republic of Kazakhstan that provides services for transporting oil to the domestic market, for transit purposes, and for export), Trend reports.
Thus, the increase in the volume of transportation of Kazakh oil for export from the port of Aktau is due to an increase in the volume of raw materials shipped in the direction of the Baku-Tbilisi-Ceyhan oil pipeline, from 250,000 tons to 1.392 million tons, which is 5.5 times more compared to the same period in 2022. In particular, 1.057 million tons of oil were shipped from the Tengiz field.
In addition, in the reporting period, 1.984 million tons of oil were shipped from the port of Aktau towards the port of Makhachkala.
In 2022, President of Kazakhstan Kassym-Jomart Tokayev ordered to increase the volume of oil transportation along the Trans-Caspian corridor.
In accordance with this instruction, KazMunayGas JSC (Kazakhstan's national oil and gas company) and the state oil company of the Republic of Azerbaijan SOCAR entered into an agreement providing for the transportation of 1.5 million tons of oil per year from the Tengiz field in the direction of the Baku-Tbilisi-Ceyhan oil pipeline.
Previously, Azerbaijani Energy Minister Parviz Shahbazov said that deliveries via the Baku-Tbilisi-Ceyhan pipeline from Kazakhstan will amount to 1.1 million tons of oil by the end of 2023.
Every month, Azerbaijan receives from 12 to 14 tankers transporting Kazakh oil. This is a satisfactory development. The initial agreement between the parties provided for the transportation of 1.5 million tons of oil this year. However, given that deliveries began in April this year, we will be able to transport 1.1 million tons of oil by the end of 2023," he said.
KazTransOil JSC is the Kazakhstan's national operator of the main oil pipeline. It is part of the KazMunayGas JSC group. KazTransOil JSC owns a diversified network of main oil pipelines 5.4 thousand km in length.
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Berik Sholpankulov steps down as deputy governor of National Bank
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By the Head of State's order, Berik Sholpankulov has been released from his position as Deputy Governor of the National Bank of the Republic of Kazakhstan upon his request, Qazinform News Agency reports, citing Akorda.
Berik Sholpankulov was born on March 4, 1976. In 1996, he graduated from the Kazakh State Agricultural University with a degree in Accounting, Audit, and Economic Analysis. In 2016, he earned a Master’s degree from the National Defense University.
Sholpankulov began his career in 1996 as an expert in the Cash Balance Management Division at the Ministry of Finance of Kazakhstan. On April 5, 2021, by presidential order, he was appointed Deputy Governor of the National Bank.
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Kenya is Interested in Expanding and Deepening Trade, Economic and Investment Cooperation with Kazakhstan
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The Embassy of Kazakhstan in Kenya, together with the Kenya Chamber of Commerce and Industry, organized a business forum on trade, economic, and investment cooperation, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The event was attended by the Permanent Secretary of Information, Communications and Digital Economy of Kenya Stephen Isaboke, the National Director of the Chamber of Commerce and Industry, Ken Onditti, the Director of the Department of Economic Affairs and Commercial Diplomacy of the Ministry of Foreign Affairs of Kenya Evans Matura, the Director of the Department of the national company "KenInvest" Pius Rotich, as well as heads and representatives of more than 25 Kenyan businesses.
From the Kazakh side, representatives of JSC "Center for Trade Policy Development "QazTrade", JSC "Export Credit Agency of Kazakhstan", JSC "National Company "Kazakh Invest", the National Chamber of Entrepreneurs of the Republic of Kazakhstan "Atameken", the company "NS Art venture Labs", "TransAsia Logistics" participated in an online format. They presented the activities of their organizations, and also shared assessments of the state and prospects for the development of bilateral trade, economic and investment cooperation with Kazakhstan.
Ambassador of Kazakhstan in Kenya Barlybai Sadykov informed participants about the political reforms being carried out in Kazakhstan, plans for national economic development, and prospects for bilateral cooperation with Kenya in various areas, including agriculture, industry, ICT, space, energy, tourism, construction, and others.
Kenya's Permanent Secretary of Information, Communications and Digital Economy, S.Isaboke, noted that Kenya is interested in expanding and deepening trade, economic, and investment cooperation with Kazakhstan, and has a highly developed infrastructure, favorable conditions for project implementation, and qualified specialists in various sectors of the economy. They emphasized that Kenya is one of the continent's fastest growing countries, a regional logistics hub, and a sea gateway for developing trade with East African countries. He praised Kazakhstan's achievements in digital transformation and called for closer cooperation between the two countries in e-government systems, financial technologies, cybersecurity, and startup incubation.
Following the forum, the Kenya Chamber of Commerce and Industry intends to develop a framework program to expand cooperation between the business communities of the two countries, as well as send a delegation of Kenyan businessmen to Kazakhstan to hold business meetings and discuss new areas of bilateral trade, economic, and investment cooperation. Furthermore, the Chamber will prepare a market entry fact sheet for Kenyan exporters in Kazakhstan, which will include information on product certification requirements, regulatory and compliance guidance, and logistics and supply chain advice.
As part of the business forum, an exhibition of products from a number of Kenyan companies specializing in the export of coffee, tea, flowers, and citrus fruits was organized. A lively exchange of views took place between representatives of the Kenyan business community on prospects for cooperation with Kazakhstan.
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Kazakhstan and Kuwait Deepen Partnership in the Oil Sector
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Ambassador of Kazakhstan to Kuwait Yerzhan Yelekeyev held a meeting with the Chief Executive Officer of Kuwait Oil Company, Ahmad Al-Eidan, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
During the meeting, the parties exchanged views on prospects for cooperation between Kazakhstan and Kuwait in the oil sector, including the exchange of experience in hydrocarbon exploration and production, the development of oil refining, and the training of industry specialists.
The sides also discussed opportunities for the participation of Kazakh oilfield service companies in the implementation of technological and service-related tasks, including engineering, drilling operations, and equipment maintenance.
Particular attention was paid to the involvement of Kazakh engineers and technical specialists in the implementation of the company’s production and infrastructure projects. The high level of training of Kazakh personnel in the oil and gas sector, as well as their practical experience in major international projects implemented in the territory of Kazakhstan, were noted, including the development of the Tengiz and Kashagan fields.
Following the meeting, the parties confirmed their readiness to further develop sectoral dialogue and to elaborate specific areas of practical cooperation between the relevant institutions of Kazakhstan and Kuwait.
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Investments in the Country’s Industrial Framework to Reach $400 Billion by 2029
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Deputy Prime Minister - Minister of National Economy Serik Zhumangarin presented a strategy for qualitative economic diversification and the formation of a new growth model at the Government session. In line with the tasks set by the Head of State, the key priority is the creation of a modern industrial framework through the development of manufacturing and high-tech industries, primeminister.kz reports.
The Deputy Prime Minister noted that in 2025 the economy demonstrated steady growth, while structural shifts toward the non-oil sector are becoming increasingly pronounced. If in 2010 the share of manufacturing in GDP stood at 11.3%, by 2024 it had reached 12.4%. At the same time, the share of the mining sector nearly halved-from 19.5% to 12%-and the share of oil and gas extraction declined from 16.5% to 8.1%.
Special attention was given to Kazakhstan’s position in the Economic Complexity Index. According to 2024 results, the country ranked 55th among 145 nations, making a sharp leap from 87th place over the past four years. It was noted that in 2024 the non-oil sector grew by 5.4%, contributing 4.2 percentage points to GDP growth, while the oil and gas sector contributed only 0.77 percentage points.
To implement the National Development Plan, we need to increase the investment-to-GDP ratio from the current 14-15% to 23% by 2029. This will make it possible to attract an additional $120 billion and bring cumulative investment for 2025-2029 to $400 billion. As a result, the fixed capital index by 2029 should grow 2.5 times compared to the 2024 level," Serik Zhumangarin emphasized.
Priority areas include the processing of natural resources and agricultural products, including ferrous and non-ferrous metallurgy, rare earth metals, petrochemicals, gas production, and pharmaceuticals. To achieve these goals, a Proactive Economic Growth Policy is being implemented. The essence of this new approach is the transition from passively waiting for investors to the active involvement of the state in launching specific projects with the participation of leading foreign partners.
Two major cases were cited as successful examples of this policy:
A coal-to-gas plant project in Karaganda Region with a capacity of 2 billion cubic meters per year and an estimated cost of about $2 billion.
Qarmet’s $3.5 billion investment program, which will increase coal production by 1.4 times, ore extraction by 1.8 times, and rolled steel output by 2.3 times.
At the same time, the "Investment Order" program is being implemented to promote import substitution and reduce inflationary pressure. To date, 12 priority areas have been identified in the food sector and 24 in the non-food segment. The program covers meat, dairy products, and sugar production, as well as the manufacture of construction materials, household appliances, and light industry goods.
The financial foundation of these initiatives will be National Managing Holding Baiterek JSC. In 2026, the holding is expected to be capitalized up to 1 trillion tenge. Taking into account additional funding, total support for the real sector will amount to approximately 8 trillion tenge. It is expected that the holding’s subsidiaries will finance promising industrial projects totaling about $100-120 billion by 2030.
The Deputy Prime Minister emphasized that strategic sectoral development plans are being formed, which will serve as the basis for long-term growth in gross value added over the next five years.
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Kazakhstan to expand refining capacity with new $10bn mega-plant
During the Government's meeting, Vice Minister of Energy Kaiyrkhan Tutkyshbayev said Kazakhstan plans to fully cover its aviation fuel deficit by 2032, Qazinform News Agency reports.
As part of the modernization and capacity expansion of our three refineries, we aim to fully eliminate the deficit by 2032. In addition, we are actively discussing the construction of a fourth oil refinery," the vice minister said.
According to him, the new plant is preliminarily expected to process around 10 million tons of oil per year.
Details on the location and technical specifications will be announced at a later stage. At this point, the refinery is expected to have a capacity of around 10 million tons per year. The preliminary cost is estimated at approximately $10 billion. Through modernization, capacity expansion, and the construction of this new facility, we will fully eliminate the deficit in aviation and diesel fuel. Moreover, we will be able to export to other countries," Kaiyrkhan Tutkyshbayev added.
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