Kazakhstan working on exporting oil to S. Korea in 2026, level not yet known

ASTANA. April 15 (Interfax) - The level of oil supplies from Kazakhstan to South Korea for 2026 have not yet been determined, the Kazakh Energy Ministry told Interfax.

"As for plans for 2026, specific levels of oil exports to the Republic of Korea have not been determined at this time and will be formed based on commercial agreements between market participants, as well as taking into account economic feasibility and logistical capabilities," the ministry said in response to the agency's inquiry.

The ministry recalled that during a recent meeting between Kazakh Energy Minister Yerlan Akkenzhenov and South Korean Trade, Industry and Resources Minister Kim Jeong-kwan, the parties discussed positions on ensuring further stable supplies of Kazakh oil to the Korean market.

"The parties confirmed their mutual interest in expanding cooperation and diversifying energy supply routes," the ministry said.

The ministry generally supports expanding the geography of export supplies of Kazakh oil and developing cooperation with foreign partners, while not interfering in the operational activities of economic entities.

Supplies of Kazakh oil in this direction were previously carried out under commercial contracts between economic entities, the Energy Ministry said.

According to the State Revenue Committee at the Kazakh Finance Ministry, oil exports from Kazakhstan to South Korea fell 15.5% in 2025 compared to the previous year and amounted to 1.5 million tonnes.

Reuters, citing the head of the South Korean presidential administration, Kang Hoon-sik, previously reported that South Korea had agreed with Kazakhstan on supplying 18 million barrels of oil (around 2.5 million tonnes).