Kazakhstan: Crude Oil Market 2025

Crude Oil Market Size in Kazakhstan

In 2022, the Kazakh crude oil market increased by 17% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Crude oil consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Crude Oil Production in Kazakhstan

In value terms, crude oil production declined to $X in 2022 estimated in export price. Overall, production recorded a perceptible contraction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Crude Oil Exports

Exports from Kazakhstan

In 2022, overseas shipments of crude petroleum oil decreased by -7.2% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 10%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, crude oil exports soared to $X in 2022. Overall, exports continue to indicate a mild contraction. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for crude oil exports from Kazakhstan, accounting for a 28% share of total exports. Moreover, crude oil exports to Italy exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-2.6% per year) and South Korea (+25.4% per year).

In value terms, Italy ($X) remains the key foreign market for crude petroleum oil exports from Kazakhstan, comprising 28% of total exports. The second position in the ranking was taken by South Korea ($X), with a 9.4% share of total exports. It was followed by the Netherlands, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+24.0% per year) and the Netherlands (-4.3% per year).

Export Prices by Country

In 2022, the average crude oil export price amounted to $X per ton, with an increase of 77% against the previous year. Overall, the export price, however, continues to indicate a slight descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($X per ton) and China ($X per ton), while the average price for exports to Switzerland ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (-0.1%), while the prices for the other major destinations experienced a decline.

Crude Oil Imports

Imports into Kazakhstan

In 2022, imports of crude petroleum oil into Kazakhstan shrank markedly to X tons, reducing by -96.7% on the previous year. Over the period under review, imports faced a dramatic downturn. The growth pace was the most rapid in 2013 with an increase of 29%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude oil imports contracted sharply to $X in 2022. In general, imports recorded a significant decrease. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) was the main supplier of crude oil to Kazakhstan, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at -59.9%.

In value terms, Russia ($X) constituted the largest supplier of crude petroleum oil to Kazakhstan.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to -58.9%.

Import Prices by Country

The average crude oil import price stood at $X per ton in 2022, which is down by -11.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2017 an increase of 9%. Over the period under review, average import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +2.5% per year.

Source: IndexBox Platform

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