Oil production suspended at Tengiz and Korolev fields
Images | Depositphotos
Tengizchevroil (TCO), the field operator, has confirmed the suspension of oil production at Tengiz and Korolev. The decision was made following technical issues with the power supply, Qazinform News Agency reports.
The company clarified that the shutdown is due to an incident affecting specific electrical distribution systems. There is currently no threat to personnel, and no injuries have been reported.
Our technical teams are actively working to identify the root cause, and their priority is to resolve the situation safely," TCO's press service said.
The company emphasizes that the Tengiz field and associated operational facilities remain in a safe condition. The decision to halt operations is a precautionary measure.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
relevant news
Kazakhstan and Spain Discuss Cooperation in the Energy Sector
Images | gov.kz
Ambassador of Kazakhstan to Spain Danat Mussayev held a meeting with Secretary of State for Energy of Spain Joan Groizard, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.
The parties exchanged views on current issues on the energy agenda, including ensuring the sustainable development of the energy sector, matters related to the energy transition, improving energy efficiency, and the introduction of modern technological solutions.
Ambassador informed the Spanish side about the priorities of Kazakhstan’s state policy in this field, including the measures being implemented to modernise the sector, diversify the of energy sources, develop renewable energy, and strengthen the resilience of energy infrastructure.
For his part, Secretary of State noted Spain´s interest in expanding dialogue with Kazakhstan in this area and shared Spanish experience in developing green energy, adapting energy systems to contemporary challenges, and ensuring energy security.
Following the talks, the interlocutors confirmed their intention to further develop practical mechanisms in this field and agreed to continue work on elaborating joint initiatives.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
KMG redirects 300,000 tons of oil amid CPC restrictions
Images | KMG
At the end of 2026, in response to restrictions on the supply of Kazakh oil through the Caspian Pipeline Consortium (CPC) system, urgent measures were undertaken to redirect volumes via alternative export routes through the network of JSC KazTransOil, Qazinform News Agency reports, citing KazMunayGas press service.
Around 300,000 tons of oil were redirected through the KazTransOil system for further export deliveries to Germany, China, Baku-Tbilisi-Ceyhan, and via the ports of Novorossiysk and Ust-Luga.
In January 2026, given the continuing restrictions on CPC’s intake of oil, measures to redirect supplies will be continued.
Work is also ongoing on additional routes for transporting Kazakh oil:
By the end of 2025, Kazakhstan recorded an upward trend in oil exports to Germany’s Schwedt refinery, with volumes reaching 2.1 million tons. In 2026, shipments are expected to rise further to 2.5 million tons.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakhstan’s bank assets surge 11% to 68.3 trillion tenge
Images | Depositphotos
President Kassym-Jomart Tokayev met on Thursday with Madina Abylkassymova, Chairperson of the Agency for Financial Market Regulation and Development, Qazinform News Agency has learned from the Akorda press service.
The Head of State was briefed on the results of the national financial sector development in 2025 and strategic objectives for the coming period.
According to the report presented at Akorda, the banking sector maintained its resilience throughout the past year, completing its annual supervisory assessment cycle. Total banking assets increased by 11%, reaching 68.3 trillion tenge, while capital adequacy is 20.7%.
Madina Abylkassymova also reported on a recently drafted Law on Banks, alongside updated legislation governing investment funds and credit rating activities.
On the economic front, lending to the business sector showed strong momentum, increasing by 17.9% as of November 2025 to reach KZT 14.8 trillion. Over the past year, banks issued KZT 17.5 trillion in new business loans and are currently co-financing eight major syndicated projects valued at KZT 2.3 trillion.
To support small and medium-sized enterprises, a dedicated SME Loan Guarantee Fund was established within the Damu Fund in June 2025. It has already issued KZT 505 billion in credit guarantees.
President Tokayev was informed that consumer lending growth slowed by 50% compared to 2024 levels. This follows a ban on loans exceeding 5 years for borrowers with existing arrears, and new restrictions on high-risk loans and those with terms of 3 to 5 years. Additionally, a new aggregate debt-to-income ratio has been established. To reduce household over-indebtedness, banks and microfinance organizations have conducted debt restructuring and partial forgiveness for 703,000 borrowers. Under the individual bankruptcy mechanism, financial institutions have cleared KZT 209.7 billion in debt for 56,000 citizens.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Kazakhstan’s Eurasian FDI hits $9.4 billion in H1 2025
Images | Depositphotos
Kazakhstan emerged as a frontrunner among Eurasian nations in attracting foreign direct investment (FDI), according to the Eurasian Development Bank (EDB), Qazinform News Agency reports.
At the end of the first half of 2025, accumulated foreign direct investment from Eurasian countries into Kazakhstan's economy had grown by 11.2% within two years. In contrast, the average growth rate across other countries in the region was 6.4%.
By mid-2025, the total volume of accumulated FDI from Eurasian countries in Kazakhstan reached $9.4 billion, accounting for 19.5% of all intra-regional investments.
The absolute growth of investment in Kazakhstan totaled nearly $1 billion, which analysts estimate accounts for more than a third of the total increase in mutual investments across the entire Eurasian region.
Growth was primarily driven by investments from Russia (+$0.73 billion) and Armenia (+$0.11 billion).
The composition of investment inflows has also undergone a significant transformation. The manufacturing sector served as the primary growth driver, with accumulated FDI in this area increasing by $0.84 billion. Agribusiness also made a substantial contribution of $0.34 billion. Conversely, the extractive sector saw a $0.5 billion decline in accumulated investment.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
Bektenov Holds a Meeting on the Generation of New Capacities to Address the Energy Deficit
Prime Minister Olzhas Bektenov held a meeting on the development of the electric power sector. Participants included First Deputy Prime Minister Roman Sklyar, Chairman of the Management Board of Samruk-Kazyna National Welfare Fund JSC Nurlan Zhakupov, Deputy Prime Minister - Head of the Government Office Galymzhan Koishybayev, Deputy Prime Minister - Minister of National Economy Serik Zhumangarin, Minister of Energy Yerlan Akkenzhenov, and heads of national energy companies Samruk-Energo (Kairat Maksutov) and KEGOC (Nabi Aitzhanov), primeminister.kz reports.
The meeting reviewed the pace of work by the Ministry of Energy, Samruk-Energo, KEGOC, and power-generating organizations on modernizing existing infrastructure and generating new capacities in line with the tasks set by the President in the Address to the People of Kazakhstan, "Kazakhstan in the Era of Artificial Intelligence: Current Challenges and Their Solutions through Digital Transformation."
The Ministry of Energy is moving into the practical phase of implementing a large-scale investment plan. At present, work is underway on 81 projects with a total capacity of 15.3 GW and a total investment volume exceeding13 trillion tenge. A significant portion of the projects is being implemented through direct private investment attracted via the electric capacity market mechanism.
Yerlan Akkenzhenov reported that over the next three years, commissioning is planned primarily in the flexible (maneuverable) generation segment, aimed at covering the deficit of regulating capacity and increasing the flexibility of the Unified Energy System.
The commissioning of the facilities currently under development will make it possible by the end of the first quarter of 2027 to fully cover the economy’s demand for electricity and remove Kazakhstan from the status of an energy-deficit country. By 2029, we expect to achieve a sustainable surplus of both electricity and regulating capacity, which will create conditions for increasing the country’s export potential," Minister of Energy Yerlan Akkenzhenov assured. Overall, by 2035 the commissioning of more than 26 GW of additional generating capacity will be ensured.
Reports were also delivered by Chairman of the Management Board of Samruk-Energo Kairat Maksutov and Chairman of the Management Board of KEGOC Nabi Aitzhanov.
The Prime Minister criticized the practice of postponing deadlines in the implementation of energy projects.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.
90 Cities and More Than 6,000 Villages in Kazakhstan Provided with Drinking Water
Images | Depositphotos
At the Government session on issues of water supply and wastewater disposal in populated areas, Vice Minister of Industry and Construction Kuandyk Kazhkenov reported on the full implementation of the Head of State’s instruction to provide the population with access to drinking water by the end of 2025, primeminister.kz reports.
According to him, over the period of implementation of the instruction, approximately 835 billion tenge were allocated from the republican budget for the implementation of more than 1.6 thousand projects, including 132 billion tenge from returned assets through the Special State Fund. Thus, from the Government’s side, the issue of financing has been fully resolved.
As a result, using these funds, centralized water supply systems were provided to 34 cities and 756 rural settlements. Additionally, through local budget funds, integrated block-modules were installed in 699 villages. For comparison, in 2021, 90% of the rural population and 97.5% of the urban population had access to water supply services. Thus, according to information from local executive bodies, to date the target indicator set by the Head of State has been achieved, and 100% coverage of all populated areas of the country has been ensured, including 90 cities and 6,087 rural settlements with a population of 7.5 million people," the Deputy Minister noted.
Attention was also paid to the quality of water supply. Reconstruction and expansion of more than 9.5 thousand km of networks were carried out, including 1.8 thousand km in cities and 7.7 thousand km in rural areas, which made it possible to reduce the level of wear of networks to 38%. At the same time, work on the development of water supply and utility infrastructure continues. In 2026, within the framework of general-purpose transfers, 128 billion tenge are envisaged, of which 78 billion tenge will be directed to water supply and 50 billion tenge to wastewater disposal.
In addition, modernization of water supply and wastewater systems will be financed through borrowed funds within the National Project for the Modernization of the Energy and Utility Sectors. It is planned to attract 1.9 trillion tenge in investments and modernize 2.8 thousand km of wastewater networks, 5 thousand km of water supply networks, and wastewater treatment facilities in 45 cities. Upon completion of the National Project, by 2030 it is planned to reduce the wear level of water supply networks to 33% and wastewater networks to 41%.
For comprehensive planning and control of projects, the institution of a Technical Operator has been introduced. Its activities are aimed at reviewing applications from natural monopoly entities, approving design assignments with priority use of products manufactured in Kazakhstan, examining technical and technological solutions, and monitoring. The Technical Operator does not replace or duplicate the functions of customers or akimats, but ensures unified requirements for the quality and efficiency of technical and technological solutions.
In addition, to determine sources and models of financing and to guarantee tariffs, the institution of a Financial Operator has been introduced. As Kuandyk Kazhkenov emphasized, the measures being taken will minimize the risks of design errors that lead to increased costs and extended implementation timelines.
The issue of reconstruction of urban wastewater treatment facilities was also considered. In 2025, treatment facilities were commissioned in the cities of Aktau and Lenger. By the end of the current year, commissioning is planned in four more cities: Atyrau, Kyzylorda, Karkaralinsk, and Karazhal.
Overall, the implementation of 45 projects for the construction and modernization of wastewater treatment facilities is envisaged, using various sources of financing, including loans from international financial institutions, bond loans through the Baiterek Holding, public-private partnerships, and targeted transfers. In particular, seven projects are planned to be implemented using loans from the European Bank for Reconstruction and Development and the Asian Development Bank.
To ensure a comprehensive approach covering the entire life cycle of projects-from application submission to commissioning of facilities or transfer after long-term operation to the balance of natural monopoly entities-a Unified Electronic Platform was launched in November 2025 within the framework of the National Project. As of today, 89 projects have been registered in the system, including 52 water supply projects and 37 wastewater disposal projects. Thirty-one projects have been identified as priorities, implemented by natural monopoly entities with the most worn infrastructure classified as being in the "red zone."
An integral part of the modernization of water supply and wastewater systems, and a necessary condition for ensuring sustainable operation, systematic management, control, and reduction of losses in utility infrastructure, is digitalization. In this regard, work is underway to standardize requirements for automation systems and metering devices with telemetry technology for automatic data collection via communication channels. Within the framework of the National Project, phased automation of water utility processes is envisaged, aimed at reducing losses, accident rates, and electricity costs, as well as increasing the service life of equipment. Implementation of these measures is planned with the involvement of World Bank financing.
Together with domestic and international experts, an assessment of the activities of water utilities in five cities-Astana, Shymkent, Uralsk, Ekibastuz, and Shakhtinsk-was conducted. Based on the results, recommendations for process optimization were prepared, and technical specifications were developed for the preparation of feasibility studies providing for unified digital solutions and phased implementation. Work is ongoing with akimats and natural monopoly entities to form applications for equipping water supply systems with metering devices. In 2026-2028, it is planned to install more than 3.6 million "smart" water meters.
In addition, within the framework of the Head of State’s Address of September 8, 2025, a task was set to attract international experience and competencies into the water sector. Last year, memorandums were signed with major international network operators Veolia, Suez, and Aqualia. The format of cooperation does not involve the transfer of assets, but is aimed at introducing management solutions and best practices while maintaining state control. At present, negotiations are ongoing with a number of Asian companies to expand experience and competencies in managing the country’s water infrastructure.
This information may not be reproduced without reference to Kazakhstan Today. Copyright of materials of News Agency Kazakhstan Today.