Kazakhstan to Reduce Oil Production in March to Meet OPEC+ Quotas
Kazakhstan will cut oil production in March to comply with its OPEC+ obligations after exceeding output limits in January, Energy Minister Almassadam Satkaliyev announced at a press conference on March 7.
The overproduction was attributed to an early start of operations at the Tengiz oilfield, originally planned for June-July but advanced to January. This accelerated production led to output surpassing the levels agreed upon with OPEC+.
Vice Minister of Energy Alibek Zhamauov noted that most of Kazakhstan’s oil exports—around 70%—are transported via the Caspian Pipeline Consortium (CPC). The pipeline is currently undergoing repairs at the Kropotkinskaya pumping station following damage from a drone attack on Feb. 17, which has also influenced the planned production cuts.
To realign with OPEC+ commitments, Kazakhstan’s oil output will be reduced to approximately 1.5 million barrels per day in March, the Energy Ministry reported.
Kazakhstan remains a key participant in OPEC+ efforts to stabilize global oil markets, balancing domestic production goals with international agreements. The country’s adherence to these commitments reflects its strategic importance in global energy supply chains.
Photo credit: gov.kz
