Kazakhstan has lowered its oil production forecast for 2025 by 1 million tons, from 97.2 million to 96.2 million, Report's Kazakhstan bureau informs, citing the country's Energy Ministry.
According to the ministry, there are several reasons for revising the plan for the extraction of the country's main export commodity:
"These include stoppages for major repairs at the largest Tengiz field in May and August with a total duration of 50 days; a 21-day stoppage at another major project, Kashagan; unscheduled stoppages at the Karachaganak field; restrictions on gas reception by the Orenburg Gas Processing Plant; stoppages of the CPC oil pipeline for scheduled maintenance; and the need to comply with the obligations of the OPEC+ agreement."
In late 2024, Kazakhstan's Energy Minister Almasadam Satkaliyev, listed all these reasons, explaining the reduction in the planned target for 2024 as well, from 90.3 million tons to 87.8 million tons.