Kazakhstan plans to cut oil production by 300,000 bpd

Kazakhstan plans to cut oil production by 300,000 bpd

Kazakhstan's Energy Minister Kanat Bozumbayev announced the country's intention to cut oil production in April by 300,000 barrels per day due to scheduled maintenance work at the Kashagan, Karachaganak and Tengiz fields.

The minister said that in March production would be cut by 80,000 bpd compared to November levels, bringing output down to 1.82 million bpd.

Bozumbayev noted that Kazakhstan has already reduced oil production by 130,000 barrels per day, Trend reported.

On Sunday, the oil ministers of Saudi Arabia and Iraq, Khalid bin Abdulaziz al-Falih and Thamir Ghadhban, announced their intention to reduce oil production in April 2019

On Wednesday, Bozumbayev said that from mid-March, Kazakhstan intends to reduce oil production by 200,000 barrels per day due to repair work at the Kashagan and Karachaganak fields on the sidelines of the industry conference CERAWeek in Houston.