Bi-Weekly Economic News Summary

KAZAKHSTAN - In Brief 02 May 2024 by Evgeny Gavrilenkov
Apr 17 Kazakhstan Petrochemical Industries: A purchase of 40% in a polypropylene production project in the Atyrau region (Western Kazakhstan) Kazakhstan Petrochemical Industries Inc. by the Russian company SIBUR was finally approved. Energy Ministry: Kazakhstan and Russia signed an agreement on the construction of coal thermal power plants in Kazakhstan. Samruk-Kazyna: In 2023, the National Wealth Fund of Kazakhstan "Samruk-Kazyna" transferred to the trust management of Russia’s Tatneft its 25% stake in petrochemical JV - Butadiene LLP. Kashagan oil field: Kazakhstan increased claims to Kashagan project participants to $150 bln. Apr 18 Bureau of National Statistics: Industrial production in Kazakhstan in 1Q24 increased by 3.8% y-o-y. Bureau of National Statistics: Agricultural production in Kazakhstan in 1Q24 increased by 1.6% y-o-y to KZT 841.7 bln. Bureau of National Statistics: Cargo turnover in Kazakhstan in 1Q24 decreased by 2.9% y-o-y to 120.3 bln ton-km. Energy Ministry: Kazakhstan expects to export up to 5 mln tons of oil per year via the Baku-Supsa oil pipeline in the future. The previous estimation was 3 mln tons per year. Energy Ministry: Kazakhstan and Azerbaijan have agreed on a gradual increase of Kazakh oil supplies, and Baku is ready to accept up to 2.2 mln tons with subsequent transportation in 2024. Energy Ministry: Kazakhstan imported 500 mln cubic meters of Russian gas in 1Q24. Energy Ministry: Kazakhstan is doing its best to ensure an uninterrupted supply of equipment for CPC. Apr 19 Government: Chinese Sinopec has officially completed joining the Polyethylene project in Kazakhstan. Government: Kazakhstan and Azerbaijan want to create an investment...

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