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Kazakhstan: Oil Output to Go Up Despite OPEC Pledges

Kazakhstan’s energy officials are continuing to officially confirm to the public what is already widely known by now — that they have no intention to stick by pledges on oil output curbs.

While committed to seeing cuts across the board among OPEC and non-OPEC members, Kazakhstan has cited rising productivity at its Kashagan field as cause for bucking the trend.

Speaking on May 30, Energy Minister Kanat Bozumbayev said that its earlier pledge to reduce output by 20,000 barrels per day will be reviewed in September. But an International Energy Agency report in March showed Kazakhstan had begun breaking their word as soon as they had uttered it.

“Kazakh crude and condensate production rose by nearly 40 kb/d in February to average 1.718 mb/d, according to the latest official data. The increase stemmed mostly from Kashagan, which produced 170 kb/d last month, only five months after start up,” the agency said.

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Kazakhstan: Oil Output to Go Up Despite OPEC Pledges

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