ASTANA, Kazakhstan, February 10. Kazakhstan plans to increase crude oil processing capacity by 9 million tons annually and modernize existing refineries, President Kassym-Jomart Tokayev said at a government meeting, Trend reports via the presidential press service.
Tokayev noted that Kazakhstan produces around 100 million tons of crude oil annually, but only 18 million tons are refined domestically. As a result, the country faces chronic deficits in diesel fuel and significant dependence on imported aviation kerosene.
Tokayev noted that accelerating modernization of existing refineries will raise total processing capacity from 18.4 million tons to 27.4 million tons per year.
"The government is tasked with making a well-founded decision regarding the construction of a new oil refinery. First and foremost, it is necessary to accurately calculate where the raw materials will be sourced from, what products will be produced, and in what volumes. If the project moves forward, private investors will need to be involved. Undertaking such projects solely with state funds is highly impractical today", he said.
Kazakhstan boasts substantial crude oil capabilities, with confirmed reserves nearing 30 billion barrels, placing it within the elite ranks of the top 15–20 worldwide. The bulk of these reserves can be found in the western territories, especially in the Caspian Sea, which plays a pivotal role in energy generation.
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