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.
China’s Defence Minister Dong Jun has urged member states of the Shanghai Cooperation Organization (SCO) to push back collectively against what he called “hegemonic behaviour”, as defence ministers met for their annual summit in the eastern Chinese city of Qingdao.
Kazakhstan will create six new nature conservation institutions to preserve biodiversity, aiming to increase protected territories to 12.5% of the national area.
Kazakhstan’s industrial sector grew by 6.4% year-on-year in the first five months of 2025, driven by increased oil production and strong performance in manufacturing, according to Halyk Finance.
Kazakhstan's e-commerce sector has soared to 3.2 trillion tenge (around 6.2 billion U.S. dollars) in 2024, marking a sevenfold increase since 2020, according to Deputy Prime Minister Serik Jumanğarin.
At least nine people, including children and their rescuers, died after sudden floodwaters swept through a river in Pakistan’s Swat Valley, turning a family picnic into tragedy.
North Korea plans to attract Russian tourists after opening its long-delayed Wonsan-Kalma coastal resort to domestic travellers in July, amid deepening ties with Moscow.
Denmark’s Arctic chief has dismissed concerns over a U.S. takeover of Greenland but says more must be done to deter any Russian attack on the strategically vital Arctic island.
With the tariff deadline fast approaching, German Chancellor Friedrich Merz is pushing for a swift and straightforward trade agreement between the EU and the U.S., as both sides continue talks to avoid a potential economic standoff.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
President Donald Trump announced that U.S. forces struck three Iranian nuclear facilities, including Fordow, Natanz, and Esfahan, marking direct American involvement in the ongoing Israel-Iran conflict.
President Ilham Aliyev received the credentials of Iran’s newly appointed ambassador Mojtaba Demirchilou, highlighting the strengthening of Azerbaijan-Iran relations and discussing broad prospects for cooperation across multiple sectors.
Azerbaijan’s top general observed major drills in Türkiye and met senior Turkish defence leaders, underscoring the allies’ growing military partnership.
Azerbaijan and China have deepened energy cooperation, with new agreements signed to advance green energy initiatives and improve Azerbaijan’s electricity transmission system in line with its renewable energy targets.
A fire that broke out Thursday evening at the 'Azerbaijanfilm' studio in Baku has been brought under control, following an explosion reported in an old pyrotechnics area of the complex.
Israeli Prime Minister Benjamin Netanyahu said Thursday that Israel’s recent victory in its conflict with Iran opens a path to expanded peace deals, including the possible addition of Saudi Arabia and Syria to the Abraham Accords.
At least nine people, including children and their rescuers, died after sudden floodwaters swept through a river in Pakistan’s Swat Valley, turning a family picnic into tragedy.
North Korea plans to attract Russian tourists after opening its long-delayed Wonsan-Kalma coastal resort to domestic travellers in July, amid deepening ties with Moscow.
Denmark’s Arctic chief has dismissed concerns over a U.S. takeover of Greenland but says more must be done to deter any Russian attack on the strategically vital Arctic island.
With the tariff deadline fast approaching, German Chancellor Friedrich Merz is pushing for a swift and straightforward trade agreement between the EU and the U.S., as both sides continue talks to avoid a potential economic standoff.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment