Kazakhstan may have lost more than $700 million in July due to a decline in oil and gas production following attacks on the infrastructure of the Caspian Pipeline Consortium (CPC). This was reported by Qazaqyia.kz citing Kursiv Media.
This assessment was given by energy and investment expert Olzhas Baidildinov, commenting on data published by Reuters.
According to Reuters, citing sources, in July 2026, oil and gas condensate production in Kazakhstan decreased by 14% compared to June.
As Baidildinov noted, in July production amounted to 7.6 million tons, or about 1.85 million barrels per day, while a month earlier this figure reached 8.6 million tons, or 2.16 million barrels per day.
According to the expert, on some days production volumes fell by more than 50%. He attributes this to drone attacks on tankers and CPC infrastructure, which affected the export of Kazakh oil.
Baidildinov recalled that on average in 2025, Kazakhstan produced about 8.3 million tons of oil and gas condensate per month. According to him, the industry had just begun to recover after the November attack on CPC facilities, which put the second outboard berth out of commission, but new incidents again limited production growth.
The expert also noted that the average price of Brent oil in July was about $87 per barrel. According to his calculations, due to a reduction in production of about 1 million tons of hydrocarbons, the country lost at least $635 million in oil revenue.
"Taking into account the decline in gas production, this shortfall easily exceeds $700 million for July alone," Baidildinov said.
The CPC has recently been the target of attacks several times. In February 2025, seven drones struck the largest oil pumping station "Kropotkinskaya". After that, oil pumping through the system decreased by 30-40%.
In the autumn, one of the berthing devices of the sea terminal was damaged. A new wave of attacks occurred in July 2026: the tankers Nordic Zenith, ASIA, NISSOS IOS and NELSA, carrying Kazakh oil, were damaged. Because of this, CPC had to temporarily stop receiving and loading oil.
The day before, the head of the National Bank, Timur Suleimenov, said that the regulator does not expect sharp fluctuations in the tenge exchange rate due to the temporary suspension of oil exports through the CPC. At the same time, the National Bank is ready to take measures if non-market exchange rate fluctuations are observed.
Meanwhile, the Ministry of Energy of Kazakhstan hopes for the speedy resumption of acceptance of Kazakh oil.