Kazakhstan may have lost $700 million in July due to CPC attacks

Kazakhstan may have lost more than $700 million in July due to reduced oil and gas production following attacks on the Caspian Pipeline Consortium (CPC) infrastructure, reports infohub.kz.

This estimate was provided by energy and investment expert Olzhas Baidildinov, commenting on data published by Reuters. According to Reuters, citing sources, in July 2026, Kazakhstan's oil and gas condensate production fell by 14% compared to June.

Baidildinov noted that in July, production amounted to 7.6 million tons, or about 1.85 million barrels per day, while the previous month it was 8.6 million tons, or 2.16 million barrels per day. According to the expert, on some days production dropped 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. He said the industry was just beginning to recover from the November attack on CPC facilities, which put the second outloading berth out of commission, but new incidents again limited production growth.

The expert also noted that the average Brent oil price 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 repeatedly been targeted by attacks recently. In February 2025, seven drones struck the largest oil pumping station "Kropotkinskaya". After that, oil pumping through the system decreased by 30-40%. In autumn, one of the berthing devices at the marine 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. As a result, CPC had to temporarily stop receiving and shipping oil.

Earlier, 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 fluctuations are observed. Meanwhile, the Ministry of Energy of Kazakhstan hopes for a speedy resumption of receiving Kazakh oil.