Kazakhstan’s oil production boost faces one-year delay

Kazakhstan’s oil production is expected to remain below previously projected levels in 2027 due to the postponement of planned maintenance at the country’s giant Tengiz oil field, the National Bank of Kazakhstan confirmed.

Timur Suleimenov, Chairman of the National Bank, said the bank had initially based its calculations on oil production of 98 million tons for 2026. The estimate was later revised downward to 96 million tons.

For 2027, the National Bank is currently using an oil production forecast of 96 million tons in its calculations, Suleimenov said.

By Vafa Guliyeva