Home>News>Industry news>Why does Kazakhstan's crude oil export business face multiple difficulties?[Oct 3rd, 2023]
Why does Kazakhstan's crude oil export business face multiple difficulties?[Oct 3rd, 2023]
The amount of crude oil exported from Kazakhstan through the CPC pipeline that passes through Russia accounts for nearly 80% of the total crude oil exports from Kazakhstan. After the outbreak of the Ukrainian crisis, Kazakhstan's crude oil export business faced multiple difficulties. On June 7, 2022, Kazakhstan National Petroleum and Natural Gas Company officially announced that starting from June 2022, Kazakhstan will use the new brand "KEBCO" for exporting crude oil to emphasize that the crude oil production is from Kazakhstan. As an important component of Kazakhstan's energy policy, the establishment of the KEBCO brand may drive a series of changes in the energy sector of Kazakhstan, which will have a positive impact on Kazakhstan's energy exports to avoid sanctions risks, expand market influence, achieve diversified exports, and improve export efficiency. Chinese petroleum enterprises should closely track market changes, seize opportunities, carefully evaluate risks, and steadily promote the improvement of crude oil export benefits and bargaining power of investment in Kazakhstan's upstream investment projects.