Kazakhstan breaks oil production record in March, exceeds OPEC+ limit
Kazakhstan's oil and gas condensate production reached a record high in March, driven by increased output at the Tengiz oilfield and steady exports through the Caspian Pipeline Consortium (CPC), according to industry sources.
According to Kazakhstan’s Energy Ministry, production totalled 8.95 million metric tons, equivalent to 2.17 million barrels per day (bpd), News.Az reports citing foreign media.
The country has repeatedly exceeded its OPEC+ crude oil quota, which is set at 1.468 million bpd. Gas condensate output is not included under the quota.
Reuters, citing official statistics and a conversion factor of 7.5 tonnes per barrel, reported that crude oil production, excluding condensates, rose to 1.88 million bpd in March, up from 1.83 million bpd in February.
Despite drone attacks on CPC infrastructure in February and March, Kazakhstan’s oil exports remained stable. Shipments through the CPC pipeline continued throughout March, with export volumes initially set at 1.7 million bpd for both March and April.
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