In 1946, when it was transformed into a city, it was renamed "Nebit-Dag", also meaning "Oil Mountain", but this time using the Turkmen word nebit.

A large monument at the far western end of the city, "Pioneers" (Russian: Первопроходцы), also called "Desert Explorers", depicts a camel, Ivan Gubkin, and Gubkin's peers, struggling to hike through the windy Karakum Desert while prospecting for petroleum.

The north side of town features the large Saparmyrat Türkmenbaşy Park, which offers trees, tennis courts, a life-size chess board and many benches.

In the 2000s, the city underwent significant transformations, including the improvement of streets, the construction of large-scale housing facilities, and the addition of supplementary amenities.

The State Drama Theater, the Museum of History and Local Lore, a diagnostic center, a wedding palace, the Balkanabat Railway Station, the Balkan Provincial Library, a stadium with 10,000 seats, a general oriental market, and other social and cultural facilities were built during that period.

[5] In 2011, the population was estimated to be 120,800 residents, 80% of them Turkmen (mainly Yomud tribe), 15% Russians, 3% Kazakhs, 2% Azerbaijanis, 10% others, including Lezgins, Armenians, Uzbeks, Tatars, and Jews.

[10] Balkanabat sits on the Trans-Caspian Railway running east–west, connecting the capital, Ashgabat, with the Balkan Region.

[14] It is the functional successor to the Polytechnic Institute, which was an extension of the Gubkin Russian State University of Oil and Gas in Moscow during the Soviet period.

[22] A giant yurt-shaped building, Türkmeniň ak öýi ("Turkmen White House") was built for special events in 2021.

[26] The city features the Balkanabat Sport Toplumy stadium, at which is based the Nebitçi professional football club, which plays in the Ýokary Liga ("Upper League").