Amidst the turbulence in the oil market, Kazakhstan announced it will increase its oil refining capacity to 39 million tons annually by 2033.

This process will be planned in parallel with the expansion of oil transportation infrastructure. The country plans to achieve this increase through “the expansion of existing plants and the construction of a new, large-capacity complex dedicated to refining and petrochemicals,” according to the Ministry of Energy.

The new complex will have a capacity of 10 million tons of oil per year. “According to Daulet Arykbayev, director of the Department of Petroleum Transportation and Refining at the Ministry of Energy of Kazakhstan, the evaluation of four potential sites for the new refinery will be completed before the end of 2026.”

The ministry will expand the capacity of existing refineries, aiming to increase it from the current 18 million tons to 29.2 million tons per year. Specifically, the Shymkent refinery’s capacity will be increased from 6 to 12 million tons of oil per year by 2030. The Pavlodar petrochemical plant will expand its capacity from 5.5 to 9 million tons per year by 2031, and the Atyrau refinery will gradually increase its processing capacity from 5.5 to 6.7 million tons per year by 2028.

M.Pino

Source: tvbrics

(Reference image source: Maksym Kaharlytskyi on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Kazakhstan to increase oil-refining capacity to 39 million tons annually apareció primero en Bitfinance.