ALMATY, June 24 (Reuters) - Kazakhstan's state energy
company KazMunayGaz raised on Tuesday its forecast for oil
output at the Chevron ( CVX )-led Tengiz oilfield, the country's
largest, to 35.7 million metric tons in 2025 from 34.8 million
tons expected previously, as it boosts output.
Kazakhstan, among the world's biggest 10 oil producers, has
persistently exceeded quotas set by OPEC+, an alliance between
the Organization of the Petroleum Exporting Countries and other
producers led by Russia, mostly due to the ramp-up at Tengiz.
Kazakhstan officials said the state had informed the group
that it had no plans to cut back its output.
Tengizchevroil (TCO), operator of the field, increased oil
output at Tengiz by 25% in the first quarter of 2025 to 74.5
million barrels, or 9.37 million metric tons.
Its output in January to May reached 15.9 million tons,
according to KazMunayGaz.
TCO is owned by Chevron ( CVX ) with a 50% stake, ExxonMobil ( XOM )
with 25%, KazMunayGaz with 20%, and Lukoil
with 5%.
(Reporting by Mariya Gordeyeva; Editing by Emelia
Sithole-Matarise)