No Plans to Leave OPEC+ - Energy Minister

Kazakhstan has no plans to withdraw from the OPEC+ agreement, despite repeated warnings over exceeding oil production quotas, Orda.kzreports.

Speaking to journalists in the corridors of the Majilis, Akkenzhenov commented on whether Kazakhstan was considering leaving the organization.

No! What kind of question is that? Where did this even come from, that Kazakhstan is considering leaving OPEC? There is no such question on the agenda,
 he said.

The Minister added that Kazakhstan is waiting for the next meeting of OPEC+ member states, after which further comments may be made.

Akkenzhenov also addressed the topic of increasing Russian oil transit to China by 2.5 million tons. He confirmed that the idea is under review.

It may be necessary to build additional oil pumping stations and expand the linear part. But this is not certain yet, we are currently considering all of this. On our side, the study is underway, on the Russian side, the study has been completed. The commission is working,
he explained.

The Minister noted that technical discussions with the Russian side are expected to conclude in the coming months, after which preparations to amend and ratify the relevant intergovernmental agreement will begin.

Original Author: Nikita Drobny