Kazakhstan aims to double oil refining capacity by 2040

Kazakhstan aims to increase its oil refining capacity to 38 million tons by 2040, as stated by the country’s Minister of Energy, Yerlan Akkenzhenov. This announcement was made during a recent meeting with executives from the national oil company KazMunayGas and representatives from the country’s four major refineries: Atyrau, Pavlodar, Shymkent, and the Aktau-based Caspi Bitum plant.

Source: Times of Central Asia

Akkenzhenov noted that this objective is part of Kazakhstan’s new Oil Refining Industry Development Concept for 2025-2040, which intends to significantly enhance the share of refined oil, improve resource efficiency, and boost the production of value-added petroleum products.

As part of this initiative, the minister emphasized the need for prompt development of a feasibility study to double the capacity of the Shymkent refinery and called for quick agreements with potential partners. He also highlighted the necessity for the Pavlodar petrochemical plant to commence work on its next expansion phase.

We must not just supply the domestic market with fuel today but lay the foundation for technological sovereignty and sustainable development for decades to come. The successful realization of this concept depends on our ability to work efficiently, make bold decisions, and take responsibility for them. There is no time for hesitation, the country expects concrete results: modern plants, quality products, and reliable power supply.

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In the meantime, the Atyrau refinery will concentrate on executing approved projects while preparing for future capacity increases. The Caspi Bitum plant is responsible for finalizing post-modernization commissioning and ensuring stable operations.