Kazakhstan

KATCO launches production at new uranium site in South Tortkuduk, Kazakhstan

KATCO, a joint venture between Orano and Kazatomprom, has started operations at the South Tortkuduk site, backed by a $190mn investment, targeting a production capacity of 4,000 tonnes per year by 2026.

Kazakhstan launches oil refining strategy to 2040 with $5bn in investments

Kazakhstan adopts an ambitious roadmap to develop its refining and petrochemical industry, targeting 30% exports and $5bn in investments by 2040.

South Korea’s YPP to invest up to $3.1B in green hydrogen production in Kazakhstan

South Korean company YPP and Kazakh Invest have signed a framework agreement for the development of a green hydrogen production project in Kazakhstan, with investments potentially reaching $3.1 billion.
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Russia Forecasts Drop in Electricity Exports to China

The Russian company InterRAO anticipates a 4% annual reduction in electricity exports, primarily impacted by a significant decrease in shipments to China due to limited hydroelectric production and rising domestic demand.

CNOOC partners with KazMunayGas to explore the Zhylyoi subsoil area

CNOOC Limited’s Hong Kong subsidiary and KazMunayGas have concluded a nine-year exploration and production contract covering nine hundred and fifty-eight square kilometres in Kazakhstan, sharing investment and operations equally.

Kazakhstan selects Russia and China for its first nuclear power plants

Kazakhstan has selected Rosatom and China National Nuclear Corporation to build two nuclear power plants totaling 2.4 GW, a decision following a favorable referendum and coinciding with Xi Jinping’s upcoming strategic visit.
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Argentina targets nuclear revival with Ivana uranium mine in three years

Blue Sky Uranium’s Ivana mining project in Argentina could begin production within three years, backed by an initial $35mn investment and an annual output capacity of 1.5 million pounds of uranium.

Masdar signs agreement with Samruk-Kazyna for renewable energy projects in Kazakhstan

Masdar and Samruk-Kazyna are collaborating to develop renewable energy and storage projects in Kazakhstan, targeting 500 MW of baseload energy and up to 2 GW of storage capacity.

Chevron sees net profit drop 36% in Q1 2025

Chevron reports a sharp decline in quarterly results, impacted by weak refining margins, stable production and exceptional charges in the United States and the United Kingdom.
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Opec+ ramps up production despite crude falling below $62

Eight Opec+ members will raise output by 411,000 barrels per day in June, boosting global supply amid falling prices and ongoing trade tensions.

The wind shifts: Chinese OEMs struggle to gain traction in the European market

Despite turbines priced 30 to 40% lower, Chinese manufacturers struggle to overcome credibility barriers hindering their progress in the European wind sector.

Iraq and the United Arab Emirates submit compensation plans to OPEC+ after oil overproduction

Iraq and the United Arab Emirates have submitted compensation plans to OPEC+ to offset their production surplus in February, amid falling crude prices and the gradual reduction of cuts planned for April.
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Kazakhmys partially suspends operations after fatal accidents

Kazakhmys, the leading copper producer in Kazakhstan, partially suspends its operations after the death of eight workers. The company is conducting an inspection of its facilities to ensure operational safety.

Kazakhstan creates a nuclear energy agency and appoints its president

Kazakh President Kassym-Jomart Tokayev has established a new agency to oversee nuclear energy, appointing Almassadam Satkaliyev as its head. This structure aims to enhance the country’s energy security and support its long-term nuclear ambitions.

Jordan bets on uranium to structure its mining industry

Jordan is developing its uranium industry with a feasibility study aimed at securing funding. A strategic partnership with a Kazakh company supports this initiative as the country seeks to exploit its resources locally.
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Kyrgyzstan Relaunches Major Hydroelectric Project with Kazakhstan and Uzbekistan

Kyrgyzstan, Kazakhstan, and Uzbekistan team up to construct the Kambar-Ata-1 hydroelectric plant, a Soviet-era project revived to address energy and water shortages in Central Asia. The $3.5bn initiative requires international investment.

Putin Asks Kazakhstan’s Partners to Fund CPC Pipeline Repairs After Drone Attack

A drone attack on the Caspian Pipeline Consortium (CPC) threatens to disrupt Kazakhstan's oil exports. Vladimir Putin urges foreign partners, including Chevron, to fund the necessary repairs.

Kazakhstan and Hungary Agree on Oil Exports via Druzhba Pipeline

An agreement was signed in February 2025 between Kazakhstan and Hungary to enhance oil exports from Kazakhstan via the Druzhba pipeline. This development could change the energy dynamics in Central Europe.
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Kazakhstan Signs First Uranium Supply Deal with Switzerland

Kazatomprom will supply natural uranium concentrate to Switzerland for the first time under a contract with Axpo. This transaction aligns with Switzerland's strategy to secure energy supplies amid declining Russian gas deliveries.

Drone Attack in Russia Disrupts Caspian Pipeline Consortium Pipeline

A drone strike in Russia has forced the shutdown of a key pumping station on the Caspian Pipeline Consortium (CPC) pipeline, temporarily reducing its capacity to transport Kazakh oil to Europe. The incident comes amid heightened diplomatic tensions surrounding the Ukraine conflict.

OPEC cuts demand forecasts in the face of rising rival production

OPEC is revising its oil demand forecasts for 2024 and 2025 downwards, due to weak economic growth and increased supply from its competitors.

Libya: Crude oil exports resume from eastern ports

Libyan crude oil exports resume from eastern ports as political negotiations progress between rival governments, supported by UN-sponsored talks.

Kyrgyzstan obtains $13.6 million from the World Bank for Kambarata-1

Kyrgyzstan secures $13.6 million in financing from the World Bank to revise the feasibility study for the Kambarata-1 hydropower plant, a key energy project in Central Asia.
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Uzbekistan processes Afghan crude: strategic energy cooperation

Uzbek refiner Saneg begins processing Afghan crude oil at its Fergana refinery, a move designed to alleviate Afghanistan's energy shortages under Taliban rule.

OPEC+ Extends Production Cut to Stabilize Oil Prices

Under pressure from falling prices, OPEC+ decided to extend the production cut by 2.2 million barrels per day until December 2024 to maintain market balance.

Brent crude falls to a 9-month record low: Markets in a state of uncertainty

Brent crude prices fell sharply on expectations of a rapid resumption of Libyan exports and possible adjustments to OPEC+ production cuts.
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Premium energy basins seek to reduce emissions

According to Rystad Energy, demand for hydrocarbons will remain high. Premium energy basins such as Rub Al Khali and Gulf Deepwater are identified as strategic targets for maintaining production while reducing CO2 emissions.

Kazakhstan launches its nuclear project

Kazakhstan, the world's leading uranium producer, is speeding up its transition to nuclear power. Public consultations have been held ahead of the referendum that will determine the future of the country's first nuclear power plant.

Georgia launches its first refinery to secure its energy supply

Georgia begins construction of its first oil refinery at Kulevi, with the aim of reducing its dependence on Russian imports and strengthening its energy autonomy.
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OPEC+ exacerbates oil market tensions

In July, OPEC+ produced 437,000 barrels per day in excess of quotas, jeopardizing reduction plans and exacerbating the challenges facing an oil market already under pressure.

Record Pollution Fine: Caspiy Neft Penalized in Kazakhstan

Kazakh authorities impose a fine of 26.6 million euros on Caspiy Neft for environmental violations, marking a rare severity in this sector.

Kazakhstan and ADB sign agreement for hydropower development

Kazakhstan and the Asian Development Bank (ADB) sign a strategic agreement to develop hydropower projects, targeting a total capacity of 600 MW. This agreement will mobilize private investment to transform Kazakhstan's energy sector.

Hungary’s MOL leverages its mature field expertise in Azerbaijan

MOL optimizes oil production in Azerbaijan, capitalizing on decades of experience in managing mature fields, with promising prospects in the Caspian region.

OPEC+ Maintains Policy Despite Falling Oil Prices

OPEC+ plans to maintain its current policy despite lower oil prices, threatening the plan to reduce production cuts in the fourth quarter.

Russian crude deals could test Middle East flows to India

India's imports of Middle Eastern crude increased in 2024, but the agreements with Russia could change all that.
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OPEC+ Reduces Production and Tightens LPG Supply

OPEC+ is reducing its crude oil production, putting pressure on the global liquefied petroleum gas (LPG) market and influencing prices.

Orano: Niger-related first-half loss of 133 million euros

Orano, the French nuclear fuel specialist, posted a loss of 133 million euros in the first half of 2024, due to the deteriorating political situation in Niger, affecting its mining activities.

Russia maintains stable relations with OPEC+ despite overruns

Alexander Novak, Russia's Deputy Prime Minister, says Russia is meeting its OPEC+ commitments despite minor production overruns in June.
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Iraq, Russia and Kazakhstan submit their OPEC+ compensation plans

Iraq, Russia and Kazakhstan have pledged to cut production by 2.284 million b/d by September 2025 to offset overproduction, according to OPEC. The cuts will be staggered and vary on a monthly basis.

OPEC+: Closer cooperation between Saudi Arabia and Russia

Saudi Arabia and Russia reaffirm their commitment to the OPEC+ agreement to stabilize the oil market, despite geopolitical challenges and Western sanctions.