Kazakhstan has partnered with China for a significant oil exploration project in the Caspian Sea.
Kazakhstan’s national oil company, Kazmunaigaz, has signed an agreement with China National Offshore Oil Corporation International Limited (CNOOC) to jointly carry out geological exploration in the Atrau region of western Kazakhstan.
The project covers a 960-square-kilometer area of the northeastern Caspian Sea. According to the terms of the agreement, exploration will be conducted on a 50-50 basis, though initial exploration costs will be entirely covered by the Chinese side. The project will involve seismic surveys and the drilling of a super-asalt exploration well approximately 2 kilometers deep. If initial results are promising, a second sub-asalt well, 4.5 kilometers deep, will be drilled.
While Kazakhstan seeks to expand its oil exploration efforts, it faces a challenge on the export front. Since the beginning of 2025, Kazakhstan’s oil exports to China have dropped by 82 percent, resulting in an $827 million decrease in revenue. Experts attribute this decline to China’s slowing economic growth and its shift towards electric vehicles.
In contrast to the decline in oil exports to China, Kazakhstan has seen some positive developments. Exports to countries like Bulgaria, Spain, Azerbaijan, and Romania have increased, and new markets such as Egypt and the Bahamas have emerged.
Despite growing production, Kazakhstan's overall oil exports have decreased by 14 percent, with the first quarter of 2025 showing a drop from 17.8 million tons to 15.3 million tons. Additionally, six countries, including South Korea, India, and the United Kingdom, have completely stopped purchasing Kazakh oil.
As Kazakhstan’s oil industry adapts to these changes, geopolitics continues to influence both the price of oil and the geography of global energy markets.
As global tensions rise, Kazakhstan's leadership navigates a delicate geopolitical balance between Russia, China, and the West, aiming to turn its strategic location into a platform for cooperation, reform, and innovation.
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A celebration of Turkish cuisine and friendship took place in Karachi on Sunday as the Turkish Consulate hosted a World Breakfast Day event, sharing traditional flavours with a distinguished Pakistani audience.
More than 500 people were arrested and two fatalities reported following chaotic celebrations across France after Paris Saint-Germain's historic Champions League victory, according to the interior ministry.
Wildfires in western and central Canada have triggered the evacuation of more than 26,000 people, with provinces including Manitoba, Saskatchewan and Alberta facing major threats.
Indonesian rescuers are continuing their efforts to locate eight people still missing after a quarry collapse in West Java left at least 17 dead and six injured, with authorities warning of ongoing landslide risks.
China has issued a formal protest against the United States over recent remarks by Defence Secretary Pete Hegseth, accusing Washington of “vilifying” Beijing and promoting confrontation in the Indo-Pacific.
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