Kazakhstan Sets Record Oil Exports in 2025 Despite Price Challenges

Kazakhstan achieved a record high in crude oil exports for 2025, shipping 76.3 million tonnes, a 7.4% increase from the previous year and a 20% rise since 2015. The growth aligns with record oil production, which reached 99.6 million tonnes, driven by increased output at the Tengiz field. Despite higher export volumes, the monetary value of these exports fell 6.8% to $40 billion due to lower global oil prices, highlighting the volatility of commodity markets.

Italy remained the top destination for Kazakh oil, importing 28.9 million tonnes worth $15.2 billion, followed by the Netherlands, France, Romania, and Greece. Together, these five countries accounted for over 70% of Kazakhstan’s oil exports. The Caspian Pipeline Consortium (CPC) was the primary export route, transporting 64.8 million tonnes, while other routes like the Baku-Tbilisi-Ceyhan handled smaller volumes.

However, the first half of 2026 saw a decline in exports, with 33 million tonnes shipped, down 6.7% from the same period in 2025. Export value also dropped 3.6% to $18.8 billion, though the average price per tonne slightly increased. This decline coincided with lower oil production and Kazakhstan’s commitments under the OPEC+ agreement to maintain production levels.

The country’s long-term strategy involves diversifying its economy beyond oil, investing in higher-value industries like petrochemicals, and using oil revenues to develop infrastructure and human capital. This approach aims to ensure sustained economic growth even as global oil dependence diminishes.