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Kazakhstan’s Atyrau oil refinery
Kazakhstan Upstream
Marat Aslan
16 May 2024
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Kazakhstan’s upstream feels the strain

Flat oil growth in 2024 highlights mounting industry problems

Kazakhstan’s upstream sector is set to post stagnant growth this year despite increasing focus on the Middle Corridor—or Trans-Caspian International Transport Route (TITR)—linking China with Europe and bypassing more geopolitically sensitive trade routes to the north and south. Central Asia’s largest country has enjoyed plenty of growth post-pandemic, but falling upstream investment, OPEC+ production cuts, and legal challenges against some of its largest oil and gas projects are set to stymie growth in 2024. “The high investment growth observed in previous years was primarily due to the Tengiz expansion project, which is no longer the case,” said Sanzhar Kaldarov, chief analyst at the Kazakh

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Letter from London: OPEC+ approaching high noon
12 September 2024
The oil alliance must navigate the good, the bad and the ugly in its showdown with the market at the beginning of December
Empire of Oil: how hydrocarbons remade the world
Opinion
12 September 2024
The transition to oil evokes revolution and renaissance
Greater Sunrise brightens Timor-Leste's outlook
11 September 2024
But the young nation may have to go through a fallow period before that project comes online as the Bayu-Undan field nears exhaustion
August/September 2024
10 September 2024
The August/September issue of Petroleum Economist is out now!

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