Kazakhstan Targets $19B Boost to Double Oil Refining by 2040

Kazakhstan has unveiled ambitious plans to nearly double its oil refining capacity-from 18 million to 39 million tons per year-by 2040, backed by projected investments of $15 to 19 billion.

The plan was formalized under a government‑approved roadmap titled Kazakhstan Oil Refining Industry Development Concept 2025‑2040, The Caspian Post reports via the Kazakh Energy Ministry.

The proposal seeks not only to scale up refining throughput but also to enhance processing efficiency and environmental performance. “The investment will enable a significant increase in refining capacity and improve the overall efficiency of oil processing,” said Talgat Makuov, Deputy Director of the Ministry’s Oil Transportation and Refining Department.

Key strategic goals include:

Optimizing the extraction‑to‑refining ratio, reducing it from the current 5:1 to a more balanced 2.5:1.

Adopting modern environmental standards, cutting emissions and aligning the sector with Kazakhstan’s decarbonization and green development targets.

Strategic Growth in Infrastructure

The 15‑year plan sets out priorities for expanding existing refineries and building new fuel‑petrochemical complexes. These facilities will feature flexible production lines to respond to market demand and are expected to become focal points for petrochemical clusters and long‑term investment.

“In the future, it will be essential to expand current refineries and build integrated, high‑tech facilities,” Makuov stated. “These complexes will be key to strengthening energy security and attracting sustained capital inflows.”

Benefits for Domestic Market and Exports

Makuov noted that implementation of the concept is projected to:

Secure a stable domestic supply of high‑quality petroleum products

Expand export opportunities, particularly to Asian markets

Create new jobs across refinery operations and associated industries

Enhance Kazakhstan’s appeal to foreign and domestic investors in the energy sector.