Oil Chronicles
Oil Chronicles. January 2026
January 2026
January 1, an order of the Minister of Energy freezing wholesale prices for liquefied petroleum gas on the domestic market entered into force. For six months, the maximum wholesale price will be 59,722 tenge per ton, excluding VAT.
As the Ministry stated, "this measure is aimed at stabilizing the wholesale liquefied petroleum gas market and protecting the interests of both producers and fuel consumers within the country."
In January, export customs duties on crude oil and light petroleum products decreased to $63 per ton from $64 per ton in December. The export customs duty rate is linked to the arithmetic average of KEBCO and Brent crude prices on global markets over the monitoring period of the State Revenue Committee of Kazakhstan.
In January, the export duty on fuel oil is $30 per ton, on vacuum gas oil is $60 per ton, and on liquefied hydrocarbon gas is zero. The duty on bitumen is $60 per ton from June 1 to September 30, and 15 euros from October 1 to May 31.
Kudaybergen Arymbek was appointed General Director of Kazakhturkmunai LLP. He was born in 1987 in Mangystau Region. He graduated from Ufa State Petroleum Technological University and began his career in 2011 at the Department of Entrepreneurship and Industry of Mangystau Region. He then worked in the Ministry of Oil and Gas and the Ministry of Energy in various roles. From July 2024, he served as Vice Minister of Energy, and in November 2025, he was replaced by Yerlan Akbarov.
QazaqGaz and Agip Caspian Sea B.V. signed an agreement to jointly study and assess the hydrocarbon potential of the Kamenkovsky subsoil block. It is located in the northern part of the Caspian sedimentary basin, which supports expectations of gas and gas condensate discoveries. Fields previously discovered in this region include Karachaganak, Chinarevskoye, Rozhkovskoye, and others.
The agreement provides for a comprehensive program of geological and geophysical studies that will serve as the technical basis for assessing the block’s hydrocarbon potential and commercial prospects.
Madi Kassymbayev was appointed General Director of KazMunayGas Drilling. He is a graduate of KBTU (Bachelor's degree in Finance; Master's degree in Executive MBA in Oil and Gas) and The University of Manchester (MSc in Development Economics and Policy). He worked at PwC and KazPetroDrilling, and since August 2022, he has served as CFO of KazMunayGas Drilling.
This is one of the largest drilling companies in Western Kazakhstan. In December 2005, the LLP was separated from the KMG Group through a sale. At present, its sole founder is MHINDUSTRY LLP. The company’s production assets include 10 owned drilling rigs with hook load capacities ranging from 100 to 590 tons.
January 13, four tankers en route to load at the Caspian Pipeline Consortium (CPC) Marine Terminal near Novorossiysk were attacked by unmanned armed boats. One of them, the Matilda, is chartered by Kazmortransflot (a KMG subsidiary). Loading the tanker with Kazakhstani oil at the CPC terminal was scheduled for January 18, 2026. "The attack caused an explosion without subsequent burning. No crew members were injured. A preliminary assessment indicates that the vessel remains seaworthy, and no serious structural damage was identified during the initial inspection. A damage assessment is underway," KazMunayGas said.
Another tanker, the Delta Harmony, was chartered by Chevron, a shareholder in the Tengiz project. Chevron said all crew members are safe and the vessel remained afloat.