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Kazakhstan

Chevron strengthens post-Hess strategy and reassures markets on growth

In New York, Chevron outlines its long-term vision following the Hess integration, focusing on financial stability, spending reduction, and record production to consolidate investor confidence.

Washington locks in Kazakh tungsten supply and frames its C5+1 bet

The United States secures a tungsten joint venture in Kazakhstan and mining protocols in Uzbekistan, with financing envisaged from the Export-Import Bank of the United States and shipment routed via the Trans-Caspian corridor.

Aramco’s net profit drops for the eleventh consecutive quarter

Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.
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Kazakhstan begins negotiations to export uranium to Finland

Talks are underway between Astana and Helsinki to consider the delivery of Kazakh uranium for Finnish nuclear power plants, amid efforts to diversify energy export markets.

Kazakhstan considers swift decision on Lukoil’s local assets

Kazakhstan is reviewing Lukoil's stakes in major oil projects after the Russian group announced plans to divest its international assets following new US sanctions.

The EU sanctions CNPC units as ESPO pipeline flows remain stable

The European Union targets a trading subsidiary and a refinery linked to China National Petroleum Corporation, tightening access to financial and insurance services without disrupting pipeline deliveries, with reallocations expected in settlements, insurance, and logistics. —
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Karachaganak cuts production after drone strike on Russian gas facility

Kazakhstan’s Karachaganak gas field has reduced output by nearly one-third following an incident at a key Russian gas processing plant targeted by a Ukrainian drone strike.

Envision Energy to supply 124 turbines for Kazakhstan’s 1 GW Mirny wind project

Envision Energy has signed an agreement to equip Kazakhstan’s largest wind power project, marking a strategic step in energy cooperation with TotalEnergies, Samruk-Energo and KazMunayGas.

Russia strikes 95 targets and severely damages Ukrainian gas sites

An unprecedented overnight offensive targeted gas infrastructure in Ukraine, damaging several key facilities in the Kharkiv and Poltava regions, according to Ukrainian authorities.
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U.S. uranium purchases reach 55.9 million pounds in 2024

Uranium deliveries to U.S. civilian operators rose 8% in 2024, while the average price climbed to its highest level since 2012, according to the latest available data.

Rosatom will finalise field studies for Kazakhstan’s nuclear power plant in 2025

Site selection for Kazakhstan’s first nuclear power plant enters an advanced technical phase, with more than 100 experts mobilised by Rosatom to conduct complex geological and seismic analyses.

U.S. oil drilling rebounds amid global tensions

The number of active drilling rigs in the United States rose for the fourth consecutive week, supported by higher crude prices and OPEC+’s difficulties in meeting production targets.
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LanzaJet and KMG launch engineering phase of Kazakhstan’s first SAF project

LanzaJet and state-owned KazMunayGas have reached a decisive milestone towards building Kazakhstan’s first sustainable aviation fuel plant, with the immediate start of the engineering phase.

Kazakhstan resumes crude exports via BTC after one-month technical halt

KazMunayGas has resumed oil shipments to Turkey through the Baku-Tbilisi-Ceyhan pipeline, following a stoppage due to a contamination issue resolved at the Aktau terminal.

Kazakhstan entrusts German Nukem with oversight of its nuclear back-end

Kazakhstan has signed an agreement with Nukem Technologies Engineering Services GmbH to benefit from German expertise in nuclear decommissioning and radioactive waste management.
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OPEC+ approves 137,000 barrels/day increase starting in October

OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.

Oil flow via Druzhba to Germany restored after drone strike

Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.

Sweden lifts uranium mining ban to revive nuclear industry

Stockholm plans to restart uranium extraction by lifting the 2018 ban, aiming to secure strategic supply chains and support domestic nuclear electricity production.
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CNOOC Limited records 6.1% increase in production for H1 2025

With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.

OPEC Revises Global Oil Forecasts for 2026 to 106.5 Million b/d

OPEC's August report reveals Russian production above quotas and commercial dominance in Asia, while Kazakhstan massively exceeds its reduction commitments.
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