Kazakhstan intends to increase production of refined oil by 100,000 tons in two years

Published 2023년 3월 16일

Tridge summary

Kazakhstan is planning to increase its sunflower oil refining capacity by 106 thousand tons for the 2023-2024 period, taking the total capacity to over 400 thousand tons by 2025. This expansion is part of a larger strategy to increase crude oil production, which is expected to grow by 49% in the 2022-2023 marketing year. However, the price of vegetable oils is currently decreasing globally, including in Central Asia, due to changes in currency exchange rates and a surge in supply following reduced oilseed sales in the previous months.

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Original content

During 2023-2024, Kazakhstan plans to increase sunflower oil refining capacity by 106 thousand tons. This was reported by the Agrosektor.kz portal with reference to the information of the Chairman of the Board of the National Association of Oilseed Processors (NAPMC) Yadykar Ibragimov at the International Conference "Eurasian Agricom". According to him, in Kazakhstan, as of the end of 2022, the total capacity of domestic oil refining enterprises was 323,000 tons per year. “Already last year, the refining capacity was increased by 37,000 tons per year, and this year we will have an increase of 40,000 tons. The plan for 2024 is an increase by another 66 thousand tons. Thus, at the beginning of 2025, our refining capacity will amount to more than 400 thousand tons,” Yadykar Ibragimov informed. There is also a preliminary plan for 2025 - the commissioning of refining capacities for another 100 thousand tons. According to the forecast of the association, the production of crude oil in ...

Source: Agrosektor