Expertise

Kazakhstan Tightens Rules for Mini-Refineries: from «Semi-Finished Product» to Euro Standards

#5 (155), November 2025 Kazakhstan Tightens Rules for Mini-Refineries: from «Semi-Finished Product» to Euro Standards

In recent years, Kazakhstan’s oil refining sector has become the arena of a quiet but fundamental clash of interests. On one side is the state, seeking to meet domestic demand for fuels and lubricants fully and to shut down channels of “grey” and “black” exports. On the other side are dozens of mini-refineries, for which the export of “semi-finished products” has long been almost the only way to survive.

Strategic Challenges of Oil Refining and Petrochemicals in Central Asia and the Caspian

#5 (155), November 2025 Strategic Challenges of Oil Refining and Petrochemicals in Central Asia and the Caspian

What challenges and opportunities does the refining and petrochemicals sector face, and what awaits it in the near future? The conclusions and forecasts in this article are based on the results of BCG’s global research and analysis prepared by the company’s offices in Tashkent, Almaty, and Baku.

Modern Approaches to Occupational Safety in the Oil and Gas Industry

#3 (153), July 2025 special issueModern Approaches to Occupational Safety in the Oil and Gas Industry

It’s uncommon in the oil and gas industry to hear about people not directly involved in oil production. Nevertheless, without the expertise of these professionals, the production, transportation, and processing of hydrocarbons would be exposed to additional risks to people and the environment. In this issue, we feature insights from Nurzhan Kassym, a recognized expert in industrial safety, occupational health, and environmental protection.

Natural Gas Prices in Kazakhstan to Increase July 1. And will continue to grow by an average of 33% annually over the next three years

#3 (153), July 2025 special issueNatural Gas Prices in Kazakhstan to Increase July 1. And will continue to grow by an average of 33% annually over the next three years

The May order issued by the Minister of Energy, titled “On Amendments to the Order of the Minister of Energy of the Republic of Kazakhstan dated June 6, 2023, No. 210 ‘On Approval of the Ceiling Prices for Wholesale Sales of Commercial Gas on the Domestic Market of the Republic of Kazakhstan’s’” provides for a phased adjustment of ceiling wholesale gas prices over three years, with an average annual increase of up to 33%.

How Foreign Investments Are Transforming Kazakhstan❜s Economy and Everyday Life

#1 (151), February 2025 special issueHow Foreign Investments Are Transforming Kazakhstan❜s Economy and Everyday Life

Foreign investments are pivotal in the country's economic development, particularly in strategically significant sectors such as oil and gas. Kazakhstan, possessing some of the world’s largest oil and gas reserves, actively attracts international capital to develop its natural resources. In addition to offering immense growth potential for the national economy, these investments directly impact the lives of ordinary Kazakhstani citizens.

Gas Market Outlook in Central Asia and Europe

#5 (149), November 2024 Gas Market Outlook in Central Asia and Europe

We are all witnessing a paradox in the global economy: On one hand, due to climate change, we urgently need to abandon fossil fuels. On the other hand, as a result of the war in Ukraine, we are more dependent on fossil fuels than ever. Let’s begin with the so-called climate crisis, which has been ongoing for years and decades. The world must either prevent it or learn to cope with the growing global warming, which, according to the latest Intergovernmental Panel on Climate Change report, will exceed 1.5°C above pre-industrial levels within the next decade.

Faces of Kazakhstan❜s GR

#2 (146), April 2024 special issueFaces of Kazakhstan❜s GR

Today, we introduce you to GR experts in the Republic of Kazakhstan’s oil, gas, and energy companies. They serve as a unique communication bridge between the companies, the government, and the public. Aizhan Khamitova, the head of the GR HUB expert community, which unites professionals in the field of interaction with state authorities and other key stakeholders of companies, asked GR specialists to talk about their work. The questions were all the same, making the answers all the more interesting to read.

Kazakhstan❜s Gas Sector: A New Vision

#1 (145), February 2024 special issueKazakhstan❜s Gas Sector: A New Vision

Petroleum continues its review of the National Energy Report 2023, prepared by the team at S&P Global and presented in October 2023 during Kazakhstan Energy Week-2023 / XV Eurasian KAZENERGY Forum. In issue No.6 of our journal last year, we discussed the current state of the country's oil industry. What is the situation with gas?

The National Energy Report Presents a Vision for the Industry’s Prospects

#6 (144), December 2023 The National Energy Report Presents a Vision for the Industry’s Prospects

At the Kazakhstan Energy Week-2023 / XV Eurasian KAZENERGY Forum, held in Astana in early October, the annual National Energy Report (NER) was unveiled. Energy continues to be a significant component of Kazakhstan's economy: the COVID-19 pandemic in 2020 resulted in the most serious economic downturn (a GDP decline of 2.6%) since the dissolution of the Soviet Union in the 1990s. However, active economic recovery afterward has been mainly due to the energy sector.

From Oil Export to Capital Export. Why Azerbaijan and Kazakhstan Invest Petrodollars in Overseas Projects

#6 (144), December 2023 From Oil Export to Capital Export. Why Azerbaijan and Kazakhstan Invest Petrodollars in Overseas Projects

Baku and Astana continue to allocate financial resources, derived from the sale of raw materials abroad, into industry-relevant assets overseas, including refineries, petrochemical plants, and gas stations. The objectives of such activities are to integrate into the global fuel market, increase the profits of core state-owned companies, and create profitable assets abroad that can generate revenue for the state treasury even after the hydrocarbon resources of the mentioned countries are depleted.

Development Potential of Petrochemistry in Kazakhstan

#5 (143), November 2023 Development Potential of Petrochemistry in Kazakhstan

Currently, Kazakhstan's oil and gas chemistry is in its formative stages. The republic has already established and operates a number of manufacturing facilities, including plants producing polypropylene, lubricants, gasoline additives, among others. On November 8, 2022, the head of state inaugurated one of the largest factories of its kind in the CIS countries – a polypropylene production plant located in the Atyrau region with an annual capacity of 500,000 tons. This state-of-the-art facility currently has the capability to produce up to 65 grades of polypropylene.

Refining: Expectations vs. Reality

#5 (143), November 2023 Refining: Expectations vs. Reality

In Russia, it's often said that the two main challenges are fools and roads. In Kazakhstan's oil industry, however, the two most debated topics are oil refining and petrochemicals. Fuel shortages have now become a pressing concern, and the petrochemical industry has been in development since as far back as 2005.  

Why it is Problematic for Investors to Take the Long View

#4 (142), September 2023 Why it is Problematic for Investors to Take the Long View

Modern Kazakhstan is not merely a country abundant with natural resources and having the fastest growing economy. It is also the country where importance is being increasingly attached to investment climate. Amid global competition for capital, we see that Kazakhstan is striving to create a favourable environment for investors, whether they are multinationals or local businesses. The government investment policy pays off - we have witnessed a record flow of international direct investments to Kazakhstan, totalled US$ 28 billion in 2022, according to the RK Ministry of Economy.

Across the Caspian Sea. Can Kazakhstan Diversify its Export Flows?

#4 (142), September 2023 Across the Caspian Sea. Can Kazakhstan Diversify its Export Flows?

In late March 2023, a tanker named Akademik Khoshbakht Yusifzade, belonging to the Azerbaijan Caspian Sea Shipping Company, docked in Baku from Aktau. It carried 6.9 thous. tons of oil from the Kashagan field. The shipper was one of the shareholders of the North Caspian Consortium – the Japanese company INPEX North Caspian Sea.

KazMunayGas IPO: is it (Already) Not the Time?

#5 (137), November 2022 KazMunayGas IPO: is it (Already) Not the Time?

By December 10, the National Welfare Fund Samruk-Kazyna intends to hold an IPO of the national company KazMunayGas. The order book will open in early November, which is when the price of the stock will be known. To date, the book value is 14,325 tenge, but the organizers promise a discount. It will not be people's IPO, as it happened, for example, with KazTransOil ten years ago, but the shares will primarily be sold to citizens of Kazakhstan and institutional investors, and what will remain for foreign investors.

Gasoline rivers do not flow abroad

#3 (129), June 2021
Starting May 9, a joint order of the Minister of Energy, agreed with other departments, has entered into force in Kazakhstan, providing a ban for six months on the export of gasoline, diesel fuel, and certain types of petroleum products from the country by road.