KazMunaiGas EP says Q1 crude output falls slightly
KazMunaiGas Exploration Production RDGZ.KZ produced 0.3 percent less crude oil in the first quarter of 2011 than the same period last year due to weather-related power cuts, the company said on Friday, Reuters reported.
London-listed KazMunaiGas EP, Kazakhstan's second-largest oil producer, said crude oil output was 3.17 million tonnes, or 259,000 barrels per day, in the first three months of 2011.
"The results of the first quarter were negatively affected by a number of emergency power cuts in the fields, caused by severe weather conditions in March 2011," the company said in a statement.
KazMunaiGas EP is a unit of Kazakh state oil and gas firm KazMunaiGas.
The company raised crude oil output by 16 percent last year to 13.29 million tonnes, or 270,000 barrels per day, mainly due to its December 2009 acquisition of a 33 percent stake in PetroKazakhstan Inc, majority owned by China's state-run CNPC.