Reuters: Tengiz Daily Oil Production Cut by Nearly 500,000 Barrels
Photo: Gov.kz
Kazakhstan's largest oil and gas field, Tengiz, has cut production by more than 20% since the end of October. This may be due to an attempt to comply with OPEC+ quotas, Orda.kz reports.
Citing sources, Reuters claims that production volumes at Tengiz have been reduced by approximately 21%, or 496.2 thousand barrels per day, since October 26.
The Central Asian nation, which relies on Tengiz and two other major fields, Karachaganak and Kashagan, for most of its production, is subject to output targets as a member of OPEC+, an alliance of OPEC and other top producers led by Russia. The production decline may help Kazakhstan comply with its output quota under an agreement with the OPEC+ group, Reuters notes.
One source claims the decline in production was due to maintenance at Tengiz.
In early October, oil production at the field increased to a record 699 thousand barrels per day. Since August, production at Tengiz has risen by 30%. In the first half of 2025, Tengizchevroil and its partners in the field's development expect to increase production to 850 thousand barrels per day.
Reuters points out that in October, Kazakhstan reduced oil production by 20% compared to September. Reuters believes this is enough to fulfill the OPEC+ quota.
Meanwhile, BNN Bloomberg claims Kazakhstan once again failed to meet the adopted quota.
Orda.kz has sent an inquiry to the Ministry of Energy regarding the reduction in production at Tengiz.
Original Author: Nikita Drobny
Latest news
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
- Will Kazakhstan Have Enough Coal This Winter?
- Belarusian Hikers Find Body on Glacier Near Almaty
- Kazakhstan Investigates Spending on 242 Million Tenge Educational Game
- Kazakhstan Makes Caspian Oil Companies Pay for Counterterrorism Deployments
- Kazakhstan Faces Shortage of 245,000 School Places
- Waste Dumping Reported Near Yurt Camps at Lake Zaisan
- Kazakh Oil Rerouted to Novorossiysk as Russia Frees Baltic Export Capacity
