Revenue Shock Looms for Kazakhstan Despite Strong Oil Output

Kazakhstan’s national oil company KazMunayGas (KMG) says it is fully prepared to navigate recent oil price volatility, even as global benchmarks hit new lows and concerns mount over falling state revenues. Despite the slump, driven largely by OPEC+ plans to increase output, KMG Deputy Chairman Aset Magauov stated that the company remains confident in its resilience. “We don’t see any risks for KazMunayGas,” Magauov told reporters at a recent briefing. “We’ve prepared for various scenarios and identified cost-optimization…