BAKU, Azerbaijan,, Dec. 15
By Nargiz Sadikhova - Trend:
Kazakhstan’s crude oil output was unchanged at an estimated 1.44 million barrels a day in November, 40,000 barrels a day above its production target according to IEA calculations based on preliminary data, Trend reports citing the IEA.
Tengiz produced 540,000 barrels a day, Kashagan 300,000 barrels a day, while output from other operators stood around 630,000 barrels a day. Condensate production from the Karachaganak field rose by 45,000 barrels a day (month-over-month) to 280,000 barrels a day.
From January, Kazakhstan’s crude oil production target will increase from 1.397 million barrels a day to 1.417 million barrels a day, still marginally lower than November’s assessed production level.
“Scheduled maintenance could help Kazakhstan compensate for over-production in 2021. According to the energy ministry, the Kashagan field will go into maintenance from January 15-27,” the report said.
The Karachaganak field plans work from 19-21 April while the country’s largest field, Tengiz, will undergo lengthy maintenance from 1 August to 15 September. The report said it is unclear if the maintenance reductions will have an overall impact on production or just compensate for higher supply in other months.
Refinery runs in Kazakhstan returned to pre-COVID levels in September, the report said. The Kazakh product market has been in oversupply since the completion of refinery upgrades last year, leading to higher throughput, exacerbated by the impact of COVID-19 on demand.
In summer, Kazakhstan banned imports of gasoline and jet fuel, and recently banned imports of diesel until 2Q2021, the report also said.
---
Follow the author on twitter: @nargiz_sadikh