KTK attacks cut Kazakh oil output and exports, vice minister says

September 17, 2026 at 01:52 PM1 min

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Attacks on the Caspian Pipeline Consortium (CPC) reduced Kazakhstan's oil production and exports, First Vice Minister of National Economy Azamat Amrin said. The government raised its budget oil price assumption to $70 per barrel, $10 above the previous forecast, citing geopolitical risks and international consensus projections.

Key Facts

First Vice Minister of National Economy Azamat Amrin said attacks on the Caspian Pipeline Consortium reduced Kazakhstan's oil production and exports.
The 2026–2028 budget draft assumes an oil price of $70 per barrel, $10 higher than the previous forecast.
The government based its oil price assumption on a consensus forecast from 18 international organizations.

Impact on Oil Output

First Vice Minister of National Economy Azamat Amrin confirmed that attacks on the Caspian Pipeline Consortium (CPC) reduced Kazakhstan's oil production and exports. He noted that fires and the geopolitical situation contributed to lower output and exports. Amrin said the decline in production and exports affected macroeconomic indicators and the tenge exchange rate.

Budget Oil Price Revision

The draft republican budget for 2026–2028 sets the oil price at $70 per barrel, an increase of $10 from the previous forecast. Amrin said the government considered forecasts from international financial organizations and current global market conditions when setting the price. The government relied on a consensus forecast from 18 organizations for the budget calculation.