Tuesday, December 5, 2023
 
 

Kazakhstan mulls OPEC+ proposal to cut oil production

EPA-EFE/FLORIAN WIESER/FILE PICTURE
The headquarters of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria.

- Advertisement -

NUR-SULTAN, Kazakhstan – Kazakhstan is considering a proposal by the technical committee of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil producers led by Russia, a group known as OPEC + to reduce Kazakh oil production by 20,000-30,000 barrels per day, Kazakh Energy Minister Nurlan Nogayev told reporters on the sidelines of a Cabinet meeting on 11 February.
“We are considering the proposal to make a decision. Our commitment to date is 1.843 million. As part of the proposal we have received, we have to cut about 20,000-30,000 barrels per day,” Nogayev said.
At the end of last year, it was reported that OPEC+ countries, which include Kazakhstan, may be recommended to further reduce oil production by 500,000 barrels at the beginning of 2020.
According to the Kazakh energy minister, the OPEC + ministerial meeting may take place in late February or early March of this year.

- Advertisement -

Subscribe to our newsletter

Co-founder / Director of Energy & Climate Policy and Security at NE Global Media

Latest

Playing politics with EU veto power – a very old game

In late November, German Chancellor Olaf Scholz, standing alongside...

Africa will watch the DRC’s elections with bated interest

2023 and 2024 are going to be busy years...

Ukraine, Middle East will dominate Cameron’s UK foreign policy agenda

David Cameron, who was made Foreign Secretary in a...

Don't miss

Playing politics with EU veto power – a very old game

In late November, German Chancellor Olaf Scholz, standing alongside...

Africa will watch the DRC’s elections with bated interest

2023 and 2024 are going to be busy years...

Ukraine, Middle East will dominate Cameron’s UK foreign policy agenda

David Cameron, who was made Foreign Secretary in a...

What will it take to prevent a Gaza reconstruction fiasco?

Let us be unequivocal about the current war between...

What will it take to prevent a Gaza reconstruction fiasco?

Let us be unequivocal about the current war between Israel and the Palestinian terrorist organization Hamas - the latter declared this war on Israeli...

Cameron’s return as Foreign Secretary raises UK’s international profile

David Cameron, who was made foreign secretary in a surprise move by Prime Minister Rishi Sunak during his cabinet reshuffle on November 13, brings...

Russia’s powerful economic levers over Armenia

Armenia's relations with its strategic partner Russia are getting worse and worse and its leaders seem to desire a shift in geopolitical orientation towards the West....

Economy Minister says Kazakhstan to expand investment and diversify trade with Europe

Kazakhstan’s Minister of National Economy, Alibek Kuantyrov, spoke to NE Global in an exclusive interview about his country's relations with Europe, Astana's economic partners,...

The EU Green Deal is a barrier to trade and global partnerships

There is an English saying that if you can’t see the wood for the trees, then you should step back and then you will...

IEA warns transitions bring new risks to energy security

Clean technology and critical mineral supply chains are highly geographically concentrated, the International Energy Agency warned in its World Energy Outlook for 2023 and...

Turkey’s role in the EU’s energy transition

The European Union is facing a unique opportunity in a world increasingly defined by geopolitical tensions, economic turbulences and the urgency of addressing climate...

After offshore gas pipe suspected sabotage, Finland switches to LNG

Finland has switched to liquified natural gas supplies to cover the country’s needs following a decision on October 8 to shut down the Balticconnector...