Kazakhstan Plans To Maintain Its 2020 Oil Production Plan

- Mar 12, 2020-

Interfax news agency Nursultan March 10, Kazakhstan's energy minister norgayev told the media the same day that Kazakhstan does not intend to substantially increase oil production after April, but will still implement the original production plan for 2020, without significant increase or reduction.

Nuo said that the current level of crude oil production limit promised by Kazakhstan is 1.843 million barrels / day. OPEC + Technical Committee proposed to reduce the production by 20000-30000 barrels / day on this basis, and the Kazakh government will adjust the production plan based on the assessment results of the impact on oil companies and resource reserves. Noel believes that OPEC + is still likely to reach an agreement on the reduction of crude oil production, because it is always beneficial for all parties to reach an agreement.

In response to the issue of whether the decline of international oil price will affect the domestic gasoline price in Kazakhstan, Nuo said that the gasoline price is regulated by the market. At present, the crude oil supply of all refineries in Kazakhstan is sufficient and they are in normal operation. The oil products produced are enough to meet the market demand. There is no need to worry about this.