Kazakhstan's oil export volumes rise 20% in decade, but revenue gains lag

September 21, 2026 at 04:51 PM2 min

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Kazakhstan's oil export volumes rose about 20% from 2015 to 2025, reaching a record 76.3 million metric tons, while export revenue grew only 49.3% to $40 billion over the same period. The country's main export route via the Caspian Pipeline Consortium through Russia faces rising risks from Middle East escalation and attacks on Russian infrastructure. The value of one exported ton fell from $604 in 2024 to $524 in 2025 even as volumes increased 7.4%.

Key Facts

Kazakhstan's oil export volumes rose from 63.6 million metric tons in 2015 to a record 76.3 million tons in 2025, an increase of about 20%.
The value of oil exports increased from $26.8 billion in 2015 to $40 billion in 2025, or by 49.3%, with the highest figure of $46.9 billion recorded in 2022.
In 2025, Kazakhstan exported 7.4% more oil than a year earlier, but its value fell by 6.8%, with the average estimated value per exported ton declining from $604 in 2024 to $524 in 2025.
More than 80% of Kazakhstan's oil exports move through the Caspian Pipeline Consortium system across Russian territory to a terminal near Novorossiysk.
In the first half of 2026, Kazakhstan exported $40.3 billion worth of goods, with crude oil and petroleum products accounting for 46.5% of the total.

Export Volume Growth

Kazakhstan's oil export volumes rose from 63.6 million metric tons in 2015 to a record 76.3 million tons in 2025, according to the Bureau of National Statistics. Exports grew from 65.2 million tons in 2022 to 71 million in 2024 and 76.3 million tons in 2025, with expansion at the Tengiz field contributing to that growth. Kazakhstan's oil and gas condensate production reached 99.6 million tons in 2025, while the government had planned for about 98 million tons in 2026 before export disruptions forced temporary output cuts.

Revenue and Price Divergence

The value of oil exports increased from $26.8 billion in 2015 to $40 billion in 2025, or by 49.3%, with the highest figure of $46.9 billion recorded in 2022, according to Ranking.kz. In 2025, Kazakhstan exported 7.4% more oil than a year earlier, but its value fell by 6.8%, and the average estimated value of one exported metric ton declined from $604 in 2024 to $524 in 2025. In the first half of 2026, Kazakhstan exported $40.3 billion worth of goods, with crude oil and petroleum products accounting for 46.5% of the total.

Transportation and Route Risks

More than 80% of Kazakhstan's oil exports move through the Caspian Pipeline Consortium system across Russian territory to a terminal near Novorossiysk. In March, Talgat Makuov, acting director of the Energy Ministry's oil refining and transportation department, said 64.8 million tons of Kazakh oil had moved through CPC in 2025, with another 9.2 million tons going through the Atyrau-Samara pipeline. The Middle East crisis is pushing prices and global freight costs higher, while attacks around Russian infrastructure are increasing the risks to Kazakhstan's main export route.