Kazakhstan Expects to Top Its Oil Output Plan in Defiance of OPEC+

Kazakhstan Expects to Top Its Oil Output Plan in Defiance of OPEC+

Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field, Kazakhstan’s Energy Minister Erlan Akkenzhenov said on Friday, in yet another snub at OPEC+ quotas. Earlier this year, Kazakhstan’s energy ministry said that the country plans to produce a total of 96.2 million tons of crude oil and condensate in 2025, or about 2 million barrels per day (bpd), which would be 9.7% higher compared t…

Ministry of Energy of the Republic of Kazakhstan: The Tengiz Field Will No Longer Increase Oil Production

Oil production in the Republic of Kazakhstan rose by 2% from the April average, reaching 1.86 million barrels per day (bpd) between May 1 and May 19, according to Reuters. The Tengiz field alone contributed 932,000 bpd to this total. In April, Kazakhstan reduced its oil output by 3% month-on-month, producing 1.82 million bpd. However, this figure still exceeded the country’s OPEC+ quota of 1.486 million bpd by almost 400,000 bpd. According to OP…