Kazakhstan has restored oil production after an accident at the Tengiz oil field briefly disrupted output last week, while also signalling its readiness to increase crude shipments through the Baku–Tbilisi–Ceyhan (BTC) pipeline.
Oil production recovered to around 290,000 tonnes per day following the disruption, Energy Minister Erlan Akkenzhenov said on Monday.
The accident at Tengiz caused output to fall to 39,000 tonnes on 28 May before production was restored on 31 May. Tengizchevroil, the field's operator, described the incident as a minor operational disruption at one of its production facilities and did not disclose further details.
Although the losses caused by the disruption cannot be fully recovered, Akkenzhenov said the incident did not prevent Kazakhstan from meeting its oil production target for May.
That was reflected in the country's overall production figures. According to an industry source, Kazakhstan's output of crude oil and gas condensate averaged 2.1 million barrels per day in May, compared with 2.16 million barrels per day in April.
Alongside the recovery in production, Kazakhstan is considering alternative routes for exporting its crude. Akkenzhenov said the country was evaluating all available export options and remained ready to increase shipments through the BTC pipeline.
Speaking on the sidelines of the Baku Energy Forum, the minister said Kazakhstan could raise supplies through the route within a short period. An agreement between the parties currently provides for shipments of 1.5 million tonnes of Kazakh oil per year, while the existing protocol allows volumes of up to 2.2 million tonnes.
Any increase, however, would depend on the economic viability of transportation. Akkenzhenov said negotiations between Azerbaijan's state oil company SOCAR and Kazakhstan's national oil and gas company KazMunayGas on tariff reductions would be an important factor in expanding shipments.
The minister also said Kazakhstan remained ready to resume oil supplies to Germany through the Druzhba pipeline after shipments were suspended in May for technical reasons.
According to Akkenzhenov, Kazakhstan is awaiting the restoration of the route's operational capability by its partners before exports can resume.
U.S. President Donald Trump has again said Iran is keen to reach a deal quickly, but a senior Iranian security official rejected the claim, saying ...
A Danish military helicopter came within “metres” of being struck by flares fired by a Russian warship, Denmark's Defence...
A Russian strike on a farm warehouse in Pryluky, north-central Ukraine, has killed at least three people, local police said. Meanwhile, EU foreign ...
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the UK Maritime Trade Operations (UKMTO), adding to concerns about energy supplies after Saudi Arabia shut down a vital oil pipeline on Saturday.
U.S. Central Command said 101 commercial vessels have been redirected in the Strait of Hormuz, while oil prices rose more than three per cent amid fresh regional attacks and supply concerns.
U.S. President Donald Trump has again said Iran is keen to reach a deal quickly, but a senior Iranian security official rejected the claim, saying Tehran will not negotiate until its conditions are met.
A Russian strike on a farm warehouse in Pryluky, north-central Ukraine, has killed at least three people, local police said. Meanwhile, EU foreign policy chief Kaja Kallas said an attack on a train near the Polish border was an attempt to intimidate Ukraine's allies.
A Danish military helicopter came within “metres” of being struck by flares fired by a Russian warship, Denmark's Defence Minister Jeppe Bruus said on Tuesday. Russia accused Denmark of carrying out “dangerous manoeuvres” near its ship, and said it was investigating the incident.
Türkiye has completed production of its first lunar spacecraft, with the probe now undergoing tests ahead of a planned launch in early 2027.
Kazakhstan and South Korea have agreed to upgrade relations to a comprehensive strategic partnership, as the two countries discuss nearly $19 billion in projects spanning energy, critical minerals and infrastructure.
The opening day of the 24th Arab Media Summit in Dubai highlighted how geopolitical, economic and technological upheaval is reshaping not only the region, but the media industry itself.
Georgia's move to comply with U.S. sanctions on Iranian airlines has sparked a diplomatic exchange with Tehran, as Tbilisi faces growing scrutiny in Washington over its ties with Iran, Russia and China.
Pakistan’s courts have temporarily blocked the expulsion of Afghan medical students, allowing dozens to continue their studies as Islamabad presses ahead with its wider Afghan repatriation drive amid tensions with Kabul.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment