Kazakhstan reveals January-February 2019 oil production
Baku, Azerbaijan, Mar. 13
By Rashid Shirinov – Trend:
Oil production in Kazakhstan amounted to about 15.2 million tons in January-February 2019, while the average daily production was 257,600 tons or 1.88 million barrels, Trend reports via Kazakh media.
In particular, in January Kazakhstan produced 8 million tons of oil. The average daily production was 258,300 tons or 1.89 million barrels.
In February, according to preliminary data, oil production amounted to 7.23 million tons. The average daily production was about 259,300 tons or 1.89 million barrels.
"Given that Kazakhstan's obligations to OPEC+ are about 1.86 million barrels per day, the deviation is only 20,000 barrels per day. This shows that Kazakhstan is trying to meet its obligations to OPEC+," Kazakhstan's Energy Ministry stated.
In December 2018, Vienna hosted the 5th meeting of OPEC+, where it was decided to reduce the total oil production of OPEC+ by 1.2 million barrels per day (800,000 barrels per day for OPEC countries, 400,000 barrels per day for non-OPEC countries) relative to the level of October 2018.
Kazakhstan joined this decision and took on commitment to reduce production relative to the level of November 2018. Thus, Kazakhstan's liabilities are about 1.86 million barrels per day, or 40,000 barrels per day below the production of November 2018.
Follow the author on Twitter: @ShirinovRashid