Kazakhstan to invest > $15 B to increase refining capacity to 40 MMt by 2040
Kazakhstan intends to increase oil refining to 40 MMtpy by 2040 after commissioning a new oil refinery, Energy Minister Yerlan Akkenzhenov said.
"By 2040, the launch of a new large-capacity plant with a capacity of 10 million tonnes of oil refining in a modern fuel-petrochemical configuration is planned, bringing refining capacities to 40 million tonnes," Akkenzhenov said at a government meeting on Tuesday.
The refining depth at the refinery will be 95%, he said. The implementation of the project will allow for 100% coverage of the growing domestic market demand for petroleum products, as well as the export of petroleum products to neighboring countries.
In addition, by 2040, a steady improvement in the quality of petroleum products from the current environmental standard K4 to K5+ is expected.
It was previously reported that Kazakhstan plans to more than double its oil refining capacities by 2040, to 39 million tonnes.
In October, as part of Kazakhstan Energy Week 2025, the director of the oil transportation and refining department of the Energy Ministry, Talgat Makuov, presented the concept for developing Kazakhstan's oil refining industry for 2025-2040.
"The expected level of investment in the development of the industry will range from $15 billion to $19 billion due to an increase in refining capacity from 18 million to 39 million tonnes per year, and the efficiency of oil refining will significantly increase," Makuov said.
The concept envisages a key indicator - improving the ratio of oil production to refining from 5:1 to 2.5:1, or by twofold. The document pays special attention to environmental standards and the reduction of harmful emissions.
In the future, it is advisable to expand existing refineries and build integrated and high-tech refineries and petrochemical complexes with a flexible product range depending on market demand, the Energy Ministry said.
Currently, three large refineries operate in Kazakhstan: the Pavlodar Petrochemical Plant, the Shymkent Oil Refinery (PetroKazakhstan Oil Products LLP), and the Atyrau Refinery. According to the Kazakh Energy Ministry, oil refining amounted to 17.9 million tonnes in 2024, and the plan for the current year is at the same level.
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