Kazakhstan Energy Market

Kazakhstan's Energy Profile

The Republic of Kazakhstan is one of the world’s most strategically important energy producers. Sitting at the crossroads of Europe and Asia, Kazakhstan holds over 30 billion barrels of proven oil reserves — making it one of the top 10 most reserve-rich nations on earth. The country produced 87.7 million tonnes of oil and gas condensate in 2024, with exports reaching 63.2 million tonnes.

Three major refineries — Atyrau, Pavlodar and Shymkent — form the backbone of Kazakhstan’s domestic petroleum product supply, with a combined capacity of approximately 17 million tonnes per year after the completion of a landmark modernisation programme. In 2024, these facilities processed 17.9 million tonnes and produced 14.5 million tonnes of petroleum products.

Key Industry Metrics (2024–2025)

Indicator

Figure

Total oil production (2024)

87.7 million tonnes

Crude oil exports (2024)

63.2 million tonnes

Oil refining volume (2024)

17.9 million tonnes

Petroleum products output (2024)

14.5 million tonnes

Motor gasoline produced

5.46 million tonnes

Diesel fuel produced

5.38 million tonnes

Jet fuel (aviation kerosene) produced

0.75 million tonnes

LPG production (2024)

3.0 million tonnes

Natural gas production (2024)

59 billion cubic metres

Target refining capacity by 2040

40 million tonnes/year

Strategic Outlook: Kazakhstan 2025–2040

The Kazakhstani government approved a long-term Oil Refining Development Strategy for 2025–2040 that sets ambitious targets for expanding refinery capacity and petroleum product exports. Key objectives include expanding national refining capacity from 18 million to 40 million tonnes per year, constructing a fourth major greenfield refinery by 2033, tripling petroleum product export volumes to 30% of production, and attracting USD 15–19 billion in investment into the refining sector.

For buyers and investors, this means Kazakhstan’s petroleum market will offer increasing product volumes, improved quality specifications and more export infrastructure over the coming decade — making it an increasingly attractive long-term supply origin.

Regulatory Environment

  • Ministry of Energy of the Republic of Kazakhstan — sector regulator
  • KazMunayGas (KMG) — national oil and gas company, controls ~25% production
  • KazTransOil — pipeline system operator
  • Ministry of Trade and Integration — export licensing and trade policy
  • Subsoil Use Law (2018) — governs exploration, production and refining licences