Economy

Oil in Kazakhstan Sees Significant Decline

Oil in Kazakhstan Sees Significant Decline

A source from the oil sector announced today, citing daily production data, that oil production in Kazakhstan decreased by 11% on January 11, with an output of 1.57 million barrels, down from 1.78 million barrels. This decline was attributed to adverse weather conditions and power outages.

Production from the Tengiz field, Kazakhstan's main oil field, dropped by 26% yesterday, while output from Kashagan, the second-largest oil field, decreased by 7%. Tengizchevroil, led by Chevron, which operates the Tengiz field, stated that it experienced a temporary disruption in one of its units due to a power outage on January 11, 2021, adding that production units are now operational again.

Our readers are reading too