financetom
Business
financetom
/
Business
/
Kazakhstan's daily oil output fell 4% in May on lower Tengiz production, source says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Kazakhstan's daily oil output fell 4% in May on lower Tengiz production, source says
Jun 2, 2025 6:06 AM

MOSCOW, June 2 (Reuters) - Kazakhstan's oil production

fell 4% in May from April due to lower production from the

Tengiz oilfield, but remained above the OPEC+ quota, according

to an industry source familiar with the statistics, and Reuters

calculations.

Kazakhstan, a top-10 oil producer, has persistently exceeded

quotas set by OPEC+, an alliance between the Organization of the

Petroleum Exporting Countries and other producers led by Russia.

Kazakhstan officials said the state had informed the group that

it had no plans to cut back its output.

Kazakhstan produced 1.748 million bpd of oil in May,

according to the source. The country's OPEC+ quota for May is

1.486 million bpd.

Oil output in Kazakhstan fell in May as Chevron ( CVX )-led

Tengizchevroil cut output on the giant Tengiz oilfield to

813,200 bpd from 885,000 bpd.

Kazakhstan's energy ministry and Tengizchevroil did not

reply to requests for comment.

Kazakhstan's total crude oil and gas condensate

production fell to 2.02 million bpd in May from 2.08 million bpd

in April, the source said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Gracie Abrams, SZA, Becky G win American Music Awards
Gracie Abrams, SZA, Becky G win American Music Awards
May 26, 2025
LAS VEGAS, May 26 (Reuters) - Folk-pop singer Gracie Abrams, Latin artist Becky G and R&B star SZA claimed some of the first awards on Monday at the fan-voted American Music Awards in Las Vegas. That's So True singer Abrams, winner of new artist of the year, sent a recorded video from a location on tour to accept the honor....
Bunge terminates agreement to buy control of Brazilian soy processor CJ Selecta
Bunge terminates agreement to buy control of Brazilian soy processor CJ Selecta
May 26, 2025
SAO PAULO, May 26 (Reuters) - Bunge said on Monday it has terminated a 2023 agreement to buy a controlling stake of the Brazilian soy processor CJ Selecta, noting the deal's deadline expired without obtaining the needed regulatory approval. In the statement, which came after Brazilian news outlet Globo Rural reported the termination, Bunge said it had already informed investors...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Matador Technologies Closes C$1.58 Million First Tranche of Private Placement
Matador Technologies Closes C$1.58 Million First Tranche of Private Placement
May 26, 2025
05:32 PM EDT, 05/26/2025 (MT Newswires) -- Matador Technologies ( MATAF ) said Monday afternoon that it had completed the first tranche of its non-brokered private placement, raising about C$1.58 million by issuing nearly 2.9 million units at $0.55 each. Each unit includes one common share and half of one common share warrant. A full warrant allows the holder to...
Copyright 2023-2026 - www.financetom.com All Rights Reserved