Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 15 Nov 2023 by Evgeny Gavrilenkov

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Nov 2 President: Kazakhstan and Hungary have the potential to increase the annual trade turnover to $1 bln (vs $172.2 mln in FY22) Nov 3 Energy Ministry: In 2024, oil extraction in Kazakhstan may exceed 90 mln tons Energy Ministry: Kazakhstan's gas exports to China will amount to 11 bcm in the years to come (vs 5 bcm in 2023) Energy Ministry: Kazakhstan can additionally deliver up to 10 mln tons of oil to China Nov 4 Energy Ministry: In 2024, Russia intends to increase exports of oil and petroleum products to Uzbekistan through Kazakhstan to 1 mln tons Nov 7 Oil production: In 9M23, Tengizchevroil increased oil extraction by 0.9% to 21.7 mln tons Nov 8 Energy Ministry: Kazakhstan plans to produce up to 94 mln tons of oil in 2024 (vs 89 mln tons in 2023) – может первое убрать? Nov 9 Russia: Mr. Putin visited Kazakhstan and met Mr. Tokayev. The Kazakh president met the Russian counterpart at the airfield once Mr. Putin’s plane landed. Kazatomprom: Kazakhstan has signed a long-term contract with the Chinese National Uranium Company to supply uranium President: Kazakhstan is interested in developing transit routes to supply of hydrocarbons from Russia to the south of the country and China NBK: By the end of October, Kazakhstan's gross international reserves (including the gold and the funds of the National Fund) reached $90.3 bln (+0.7% m/m) President: Presidents of Kazakhstan and Russia Mr. Tokayev and Mr. Putin signed a number of documents following the talks in Astana, Including Joint Action Plan for 2024-26 Ministry of Finance: The NBK plans to purchase shares of KazMunayGas worth KZT1.3 trln, including KZT500 bln allocated for these purposes in October. As a result, t...