Kazakhstan’s oil production in the first two weeks of April decreased compared to the March average, according to a Reuters report.
Despite the decline, output remains above the OPEC+ quota that Kazakhstan has committed to uphold following months of exceeding targets, the report stated.
Last month, the news agency had reported that several other members of the OPEC+ group, including top producer Saudi Arabia, have expressed anger over Kazakhstan’s increasing production.
Crude oil production in the Central Asian country for the period April 1-13 decreased by 3% compared to the March average.
This decline, which resulted in an output of approximately 1.82 million barrels per day, is attributed to lower production at the Tengiz field operated by Chevron.
Kazakhstan’s production is still expected to surpass its OPEC+ quota of 1.473 million bpd for April, despite the decline.
Kazakhstan, a significant oil producer, has consistently surpassed the quotas established by OPEC+, a collaboration between OPEC and other oil-producing nations led by Russia.
This has resulted in grievances from other members of the alliance.
March oil production
According to OPEC data, Kazakhstan’s crude production increased by 37,000 bpd in March to 1.852 million bpd.
This has far exceeded the production quota assigned by the cartel to Kazakhstan for March.
Interfax news agency reported on Thursday that Kazakhstan would fulfill its commitments in April and partially compensate for earlier overproduction, according to the energy ministry.
Kazakhstan’s oil industry includes participation from several major Western oil companies, including Chevron, Shell, ExxonMobil, TotalEnergies, and Eni.
Kazakhstan’s oil production has increased, primarily due to a production boost at the Tengiz oilfield, the country’s largest, which is operated by Chevron.
The average daily output at Tengiz for the first 13 days of April was 111,000 metric tons (884,000 barrels), down from March’s average of 119,340 tons (950,000 barrels), according to the report.
CPC
The Caspian Pipeline Consortium, which operates the primary pipeline for exporting Kazakhstan’s oil, has encountered disruptions due to drone attacks and disputes regarding terminal equipment at Russia’s Black Sea port of Novorossiisk.
In February, a CPC pumping station located in southern Russia was attacked by a Ukrainian drone, and in March, a nearby oil depot was set ablaze, also suspected to be from a Ukrainian drone strike.
Russia deliberately limited the CPC’s ability to export through the Black Sea, a critical trade route for the company.
Last week, Russia partially restored the company’s exporting capacity.
In March, the CPC (Caspian Pipeline Consortium) augmented its oil pumping by 0.6% on a daily basis compared to February.
This increase resulted in a daily output of 6.602 million metric tons, which is equivalent to 1.69 million barrels per day.
Despite potential disruptions, Kazakhstan has affirmed that oil exports through the CPC pipeline remain unaffected.
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