In 2022, Kazakhstan experienced a significant increase of 50% in its oil export revenues due to a surge in crude oil prices.
According to the country's Bureau of National Statistics (BNS), the country's oil exports contributed $46.8bn, with 65mn tonnes exported. This marks a notable increase from the previous year when the country exported 65.5mn tonnes, generating $31bn.
Reuters reports that with no direct access to offshore oil hubs, Kazakhstan relies on transporting its oil through Russia, which has been subjected to Western sanctions due to its military operations in Ukraine.
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