Dec 3, 2025
Kazakhstan intends to increase its oil refining capacity twofold by 2040.
Kazakhstan intends to construct a new major refinery and increase its current refining capacity to more than double its crude processing ability by 2040, as stated by Energy Minister Yerlan Akenzhenov on Tuesday.
In the previous year, the refining rate for the OPEC+ oil producer stood at 18 million tons annually. The expansion of existing capacity is projected to increase oil refining volumes from the current 18 million tons per year to 30 million tons per year between 2025 and 2032, according to the minister.
By 2040, Kazakhstan also aims to introduce a large-scale refinery with a capacity of 10 million tons per year.
These developments are expected to more than double the oil refining capacity from 18 million tons per year to 40 million tons annually by 2040.
Accompanying this capacity expansion is a goal to double petroleum product output to 29.2 million tons by 2040, compared to the 14.55 million tons anticipated for the current year.
Earlier this year, Talgat Makuov, deputy director of the energy ministry’s oil transportation and refining department, mentioned that meeting Kazakhstan's objective to more than double its refining capacity would require investments ranging from $15 billion to $19 billion.
“Expected investments in sector development, according to the Concept, range from $15 billion to $19 billion, enabling an increase in refining capacity from 18 to 39 million tons per year while significantly improving processing efficiency,” Makuov was quoted as saying by local outlet The Times of Central Asia.
In the meantime, Kazakhstan has increased its crude oil production this year, consistently exceeding its quota under the OPEC+ agreement, while still reaffirming its commitment to the arrangement.
As a non-OPEC producer, Kazakhstan is part of the OPEC+ agreement but has been producing above its quota for years without adequate compensation for the overproduction. This year, Kazakhstan’s production has been boosted by expansion projects involving international companies like Chevron.
In the previous year, the refining rate for the OPEC+ oil producer stood at 18 million tons annually. The expansion of existing capacity is projected to increase oil refining volumes from the current 18 million tons per year to 30 million tons per year between 2025 and 2032, according to the minister.
By 2040, Kazakhstan also aims to introduce a large-scale refinery with a capacity of 10 million tons per year.
These developments are expected to more than double the oil refining capacity from 18 million tons per year to 40 million tons annually by 2040.
Accompanying this capacity expansion is a goal to double petroleum product output to 29.2 million tons by 2040, compared to the 14.55 million tons anticipated for the current year.
Earlier this year, Talgat Makuov, deputy director of the energy ministry’s oil transportation and refining department, mentioned that meeting Kazakhstan's objective to more than double its refining capacity would require investments ranging from $15 billion to $19 billion.
“Expected investments in sector development, according to the Concept, range from $15 billion to $19 billion, enabling an increase in refining capacity from 18 to 39 million tons per year while significantly improving processing efficiency,” Makuov was quoted as saying by local outlet The Times of Central Asia.
In the meantime, Kazakhstan has increased its crude oil production this year, consistently exceeding its quota under the OPEC+ agreement, while still reaffirming its commitment to the arrangement.
As a non-OPEC producer, Kazakhstan is part of the OPEC+ agreement but has been producing above its quota for years without adequate compensation for the overproduction. This year, Kazakhstan’s production has been boosted by expansion projects involving international companies like Chevron.