OPEC+ to suspend oil output increase

A roundtable discussion on "Kazakhstan's Investment Opportunities for Korean Business" was held in Seoul, as part of the visit of the Kazakh delegation, led by Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

The event brought together representatives of government agencies, national companies, financial institutions, and business communities from both countries. Approximately 50 leading Korean companies representing the energy, industrial, infrastructure, financial, and technology sectors participated in the discussions.

Ambassador of Kazakhstan to the Republic of Korea, Asset Issenali emphasized the progressive development of the Kazakh-Korean strategic partnership and the growing interest of South Korean businesses in the Kazakh economy.

Gabidulla Ospankulov, Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan detailed the Kazakhstan's competitive advantages as the largest economy in Central Asia, an important transport and logistics hub, and a reliable platform for long-term investment projects.

Korean partners were presented with promising areas of cooperation in energy, mechanical engineering, agro-industrial complex, transport infrastructure, logistics, and digital technologies. Particular emphasis was placed on the development of the Trans-Caspian International Transport Route (Middle Corridor), which is increasingly important as a key transit route between Asia and Europe.

Participants focused on the opportunities offered by Kazakhstan's special economic and industrial zones, current government support measures for investors, and project support mechanisms based on the "one-stop shop" principle. Presentations were also given by representatives of the Aktobe Region Akimat, Baiterek National Investment Holding JSC, Samruk-Kazyna JSC, KAZAKH INVEST National Company JSC, KEGOC JSC, QazaqGaz National Company JSC, Almaty Invest, and the Korkyt Ata SEZ Management Company. The presentations focused on infrastructure initiatives, production localization projects, and prospects for jointly implementing high-tech manufacturing projects with Korean capital.

The Alatau City project was presented separately during the event. The Kazakh side highlighted opportunities for attracting advanced Korean technologies and investment to develop modern urban infrastructure and the industrial and innovative potential of the new growth center.

It was noted that the project is being implemented in accordance with the adopted Constitutional Law of the Republic of Kazakhstan "On the Special Legal Regime of Alatau City," which provides special conditions for doing business, simplified administrative procedures, and a stable and predictable regulatory environment for foreign investors. Representatives from KIND, Korea Eximbank, Doosan Energy, KNOC, Shinhan Securities, BNK Financial Group, and other leading South Korean corporations and financial institutions participated in the discussions.

A number of bilateral meetings with current and potential investors took place on the sidelines of the roundtable. The parties discussed specific projects, prospects for expanding industrial cooperation, and new areas of collaboration.

 

During the visit to the south of Israel, the Ambassador of Kazakhstan to Israel, Daulet Yemberdiyev, met with several leading innovation and infrastructure companies in the city of Eilat and the region, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

During the visit to the National Center for Mariculture, the Ambassador was informed with innovative technologies for farming fish and algae, as well as the center's research and development initiatives and the prospects for cooperation with the Kazakhstani partners.

A visit to the Port of Eilat and a meeting with its CEO, Gideon Golbar, provided an opportunity to assess the potential of this key regional enterprise in terms of cooperation prospects and the development of alternative routes to expand trade between Kazakhstan and Israel.

Great interest was also shown during visits to two innovative companies, Airengy and Advance IP Ltd, which promote alternative technologies in the fields of energy and high-tech agriculture.

 

The Kazakh Transport Ministry, concerned state bodies, transport operators and business community representatives held a meeting of the grain shipment operational headquarters, Qazinform News Agency reports.

The Transport Ministry reported a 15% increase in grain shipments in the first quarter of 2026, totaling 4.1 million tons.

The country’s grain exports reached 3.2 million tons, 18% up, while domestic shipments hit 0.9 million tons, 8% up.

According to the Ministry, shipments to Central Asian countries surged by 48% to stand at 2.1 million tons, including 1.5 million tons to Uzbekistan.

Grain shipments to and via Russia amounted to 512,000 tons. Grain exports to Afghanistan soared by 4.2 times up to 302,000 tons, while feed flour exports to China doubled, reaching 1 million tons.

Notably, Kazakhstan plans to launch new grain processing enterprises with a combined capacity of 5.8 million tons per year by 2028.

 

OPEC+ has agreed in principle to ‌raise oil output targets in June, two sources familiar with the group's thinking said on Saturday, but the increase will remain largely on paper as long as the U.S.-Iran war continues to disrupt Gulf oil supplies, reuters reports.

Seven OPEC+ countries have an agreement in principle to raise ​oil output targets by about 188,000 barrels per day in June, the third consecutive monthly increase, pressing ​on with plans despite the war and the departure of the United Arab Emirates from ⁠the group this week, the sources said ahead of a policy meeting on Sunday.

 

Ambassador of the Republic of Kazakhstan to the Republic of Moldova Almat Aidarbekov, held a meeting with the Deputy Prime Minister - Minister of Economic Development and Digitalization of the Republic of Moldova, Eugen Osmochescu, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

During the meeting, the Ambassador informed about the measures being implemented by the leadership of Kazakhstan aimed at the country’s further socio-economic and political development. Particular attention was paid to the course of economic and political reforms of the President of Kazakhstan Kassym-Jomart Tokayev, as well as to issues related to attracting foreign investment and Kazakhstan’s commitment to its international obligations.

The Moldovan side, in turn, expressed its readiness to further strengthen mutually beneficial cooperation between the two states. In this context, the parties discussed the prospects for expanding bilateral trade, economic and investment cooperation.

 

Ambassador of the Republic of Kazakhstan to the Kingdom of Saudi Arabia Madiyar Menilbekov held negotiations with the Deputy Minister of Energy of the Kingdom for International Relations and Cooperation Nasser Al-Dossari, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

During the conversation, the parties discussed prospects of bilateral cooperation between Kazakhstan and Saudi Arabia in the energy sector, and emphasized the importance of further strengthening engagement within multilateral platforms.

Particular attention was given to expanding investment partnerships, as well as promoting joint projects aimed at sustainable development and diversification of energy resources.

The parties confirmed their mutual interest in further strengthening Kazakh-Saudi ties and agreed to continue coordination on priority areas of cooperation.

 

The 2025-2026 heating season in Kazakhstan proceeded as normal, ensuring a steady supply of heat to consumers, officials said Thursday, Qazinform News Agency reports.

According to Yerzhan Yertayev, Chairman of the Committee for State Energy Supervision and Control, there are positive trends: the number of technical failures at power plants dropped by 15%, and cases of non-compliance with temperature schedules decreased by two-thirds.

Kazakhstan has launched a large-scale repair campaign ahead of the next heating season. At power plants, major overhauls are planned for nine power units, 55 boilers, and 51 turbines.

This year, crews are also overhauling 17,098 km of power lines, 444 substations, and over 3,400 distribution points and transformer stations. Officials expect these efforts to reduce the average wear and tear on power grids to 65.7%.

It is planned to repair or reconstruct 377 kilometers of heat distribution networks nationwide. As part of the National Project for Energy Sector Modernization, 130 km of heat networks will be rebuilt in 2026. Together, these projects are expected to bring the average wear level of heat networks down to 48%.

Energy companies have been entrusted with speeding up the bidding procedures and starting repairs immediately. Besides, they must also strictly follow hydraulic testing schedules and fix any defects found.

 

A meeting was held between Asset Issenali, Ambassador of the Republic of Kazakhstan to the Republic of Korea, and representatives of Korean companies operating in Kazakhstan, including KIA, KT&G, Hyundai Engineering, and Open Healthcare, Ministry of Foreign Affairs of the Republic of Kazakhstan reports.

During the meeting, the parties discussed the current state and prospects of trade, economic, and investment cooperation. Particular attention was paid to the implementation of joint projects in industry, energy, the automotive sector, education, healthcare, and other areas.

The Ambassador of Kazakhstan emphasized the country’s commitment to further improving the investment climate and assured that Kazakhstan would continue its efforts to create favorable conditions for doing business.

Representatives of the companies confirmed their interest in further expanding their presence in the Kazakh market and strengthening partnerships with Kazakh organizations.

Following the meeting, the parties expressed their mutual readiness to further develop comprehensive and mutually beneficial cooperation between Kazakhstan and South Korea.