Kazakhstan Oil Output Boost Helps U.S. Majors Outpace European Rivals

A sharp increase in oil production in Kazakhstan has helped American oil majors leave their European competitors far behind, Orda.kz reports.

According to energy analyst Ron Bousso in his Reuters column, Exxon Mobil and Chevron have decisively overtaken the European companies they long competed with for production growth, with the expansion project at Tengiz playing a key role.

Chevron posted its highest quarterly oil output in company history in April–June 2025, largely due to progress at Tengiz. During this period, the company pumped 3.4 million barrels per day, up three percent, and expects to boost production by another half‑million barrels a day in the third quarter.

Exxon Mobil’s second‑quarter 2025 output rose six percent year‑on‑year to about 4.63 million barrels a day. In addition to assets in the U.S. and South America, Exxon is a partner in the Kashagan development.

European producers are lagging: Shell’s production has dropped to its lowest level in 20 years, while TotalEnergies saw a 3.3‑percent year‑on‑year decline. 

Bousso notes that this shrinking “window of opportunity” for the European giants is being squeezed further in a capital‑intensive industry where projects take years to develop, competition is rising as OPEC countries ramp up output, and long‑term demand remains uncertain amid the energy transition.

The analyst explicitly points to Kazakhstan as one of Chevron’s main competitive advantages.

For Kazakhstan itself, the Tengiz expansion is among the most economically significant projects, set to help the country exceed its oil production targets.

Original Author: Nikita Drobny