In 2021, Kazakhstan increased oil refining capacity at its three largest refineries by 7.7 percent year-on-year to 17 million tonnes.

The recent crisis in Kazakhstan took many by surprise. Long considered the most prosperous and stable in Central Asia, it now suddenly appears fragile and weak.

Azerbaijan’s Energy Ministry welcomed the decision and is now scheduled to produce 675,000 bpd in March.

To date, the EBRD has invested more than $10.3 billion in the economy of Kazakhstan in the framework of 295 projects.