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Update: Market Chatter: Chevron, Shell Reduce Output in Kazakhstan After Strike on Russian Gas Plant
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Update: Market Chatter: Chevron, Shell Reduce Output in Kazakhstan After Strike on Russian Gas Plant
Oct 21, 2025 7:22 AM

10:02 AM EDT, 10/21/2025 (MT Newswires) -- (Updates with Shell's reply in the fourth paragraph.)

Chevron ( CVX ) and Shell (SHEL) are among the oil majors that have reduced oil and gas production at Kazakhstan's Karachaganak field after a Ukrainian drone strike damaged a gas processing plant in Russia, Reuters reported Tuesday, citing Kazakhstan's energy minister Erlan Akkenzhenov.

The oil and gas field cut daily output by between 8,500 and 9,000 metric tons, the report said. Akkenzhenov was hopeful that production restrictions would be lifted within three days, Reuters said.

"We acknowledge the temporary suspension by the Orenburg Gas Processing Plant of gas intake from Karachaganak. Safety of personnel as well as reliable flow assurance of gas are critical to both KPO operations and Kazakhstan's economic stability," a Chevron ( CVX ) spokesperson told MT Newswires.

Shell declined to comment in reply to a request sent by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 153.49, Change: -0.99, Percent Change: -0.64

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