Kazakhstan to Surpass 2025 Oil Output Plan Due to Tengiz Expansion
Photo: Tengizchevroil
Kazakhstan is expected to exceed its oil production target for 2025, largely due to increased output at the Tengiz field, Orda.kz reports.
According to Reuters, Energy Minister Yerlan Akkenzhenov stated that the country will likely surpass its planned production volume of 96.2 million tons (approximately two million barrels per day). He attributed the anticipated overproduction to the expansion at Tengiz and noted that this growth explains Kazakhstan’s repeated failure to meet OPEC+ quotas.
Despite the consistent quota breaches, Akkenzhenov denied any external pressure from the oil alliance and dismissed concerns over the so-called “oil wars” led by Saudi Arabia.
Oil output at Tengiz has already risen by 25%, ahead of schedule, leading the Ministry to forecast an early completion of this year’s production plan.
Previously, Reuters reported that Kazakhstan's overall oil production had increased by an additional two percent. By the end of May, the country is expected to once again exceed its OPEC+ production limits.
Original Author: Nikita Drobny
Latest news
- Kazakhstan Refuses To Ease Access To Hazardous Work Payments
- Almaty Metro To Replace Korean-Controlled System After Technical Failures
- Fewer Kazakhstanis Work Outside Their Home Regions
- Safety Violations Cited As Possible Cause Of Kazzinc Plant Explosion
- Tenge Weakens Five Percent In May As National Bank Reports No Interventions
- New Direct Flights From Kazakhstan To Warsaw, Izmir, And Larnaca
- Kazakhstan Clarifies Position On Possible Iranian Uranium Storage
- EU Politicians Eye Kazakhstan And Uzbekistan As Possible Sites For Migrant Return Centers
- Kazakhstanis Are Leaving The Regions For Megacities
- Kazakhstan Could Store Iranian Uranium If US-Iran Nuclear Deal Is Reached
- Kazakhstan’s EV Boom Is Here. Is The Grid Ready?
- Cyprus President To Make First Official Visit To Kazakhstan
- Kazakh Investors May Gain Remote Access To Armenian Stock Market
- Call Center In Ukraine Scammed Kazakhstanis By Posing As Banks And Police
- Kazakhstan Marks Day Of Remembrance For Victims Of Political Repression And Famine
- Kazakhstan Considers Molecular Markers To Track Fuel Supply Chains
- Tengiz Oil Production Gradually Restored After Operational Failure
- Tokayev Meets Cuban Vice President To Discuss AI And Medicine
- Karaganda Zoo Shows Newborn Amur Tiger Cubs For The First Time
- Putin and Tokayev Consolidate New Format of Relations, Political Analyst Says
