Kazakhstan's National Fund receives record low oil revenue amid rising global prices
Kazakhstan's National Fund received 83 billion tenge ($175.6 million) from oil companies in March, marking a record low. The total fund increased to 37.3 trillion tenge by the end of March. This comes even as global oil prices rise due to geopolitical tensions.
March Revenue Details
In March, Kazakhstan's National Fund collected 98.1 billion tenge ($207.6 million), including taxes, fines, and other payments from oil and gas companies. The fund's revenue from these companies was 83 billion tenge, the lowest since its inception in 2001, according to Orda.kz. The fund also includes income from state asset privatization and investment returns.
Fund Withdrawals and Balances
According to Finance KZ, withdrawals from the National Fund in the first three months of 2026 totaled 800.38 billion tenge, slightly exceeding the 799.54 billion tenge in deposits. The fund's balance stood at 37.33 trillion tenge as of April 1, 2026. The guaranteed transfer to the republican budget accounted for 800 billion tenge of the withdrawals.
What's Next
The Ministry of Finance is expected to release further details on fund management. It remains uncertain how rising oil prices will impact future contributions to the fund.
2 sources
Kazakhstan's National Fund receives record low oil revenue amid rising global prices
