ALMATY, Jan. 8 (Xinhua) -- Kazakhstan cut its 2025 oil production forecast to 96.2 million tonnes, down from the previous estimate of 97.2 million tonnes, the Ministry of Energy said on Wednesday.

The adjustment is attributed to several factors, including extensive maintenance at the Tengiz oil field (spanning 50 days in May and August), a 21-day shutdown at the Kashagan oil field, unexpected outages at the Karachaganak oil field, gas intake limitations at the Orenburg gas processing plant, planned maintenance at the Caspian Pipeline Consortium, and adherence to the Organization of the Petroleum Exporting Countries (OPEC) Plus agreements.

Last year, the country also revised its 2024 oil production forecast several times, lowering it from an initial target of 90.3 million tonnes to 88.4 million tonnes and later to 87.8 million tonnes.

The production shortfalls have affected Kazakhstan's economic growth. In December, Kazakh Prime Minister Olzhas Bektenov directed the energy ministry to ensure 2025 production targets are met. Enditem

Related

Go to Forum >>0 Comment(s)