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Investing.com -- Kazakhstan plans to increase its fuel exports to China, India, and Central Asia as part of a new long-term strategy for its oil refining industry, the country’s energy ministry announced Tuesday.
The government has approved a development strategy for the oil refining sector spanning from 2025 to 2040. Currently, Kazakhstan maintains restrictions on gasoline and diesel exports.
Following modernization efforts, Kazakhstan’s three major oil refineries—located in Pavlodar (north), Shymkent (south), and Atyrau (west)—have reached a combined annual production capacity of 17 million metric tons, equivalent to 350,000 barrels per day.
The energy ministry forecasts domestic fuel demand to increase by up to 2% annually, driven by ongoing urbanization and industrial development across the country.
Kazakhstan aims to target markets in China, India, and Central Asian countries, with plans to increase the proportion of exports to 30% of total output by 2040.
The ministry indicated it may seek foreign investments to fund the implementation of this strategy, leveraging Kazakhstan’s substantial crude oil reserves, which stand at 30 billion barrels.
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