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Kazakhstan to Diversify Oil Export Markets

OIL

Kazakhstan Energy Minister Bolat Akchulakov said earlier that the country needs to diversify it’s oil export options due to growing production. He said they are targeting routes to China and Iran.

  • "Oil production is expected to grow to 100 million tonnes by the middle of 2024. Therefore, we will inevitably have to resolve issues with increasing our transportation possibilities," Akchulakov said.
  • "We have two main routes: to the east, China, and across the Caspian, if our partners agree to buy oil volumes. There are also possibilities for shipping by sea to Iran, but these are small transactions that have historically taken place in Kazakhstan, up to 5 million tonnes," Akchulakov said.
Energy BulletsCommodities
Energy BulletsCommodities

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