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Tengrinews.kz - In March, Kazakhstan will decrease the volume of exported oil transported via the Caspian Pipeline Consortium (CPC) route. This was announced by Vice-Minister of Energy Alibek Zhamauov.
During a briefing, journalists asked whether Kazakhstan planned to cut oil production in response to OPEC+ requirements.
"Yes, Kazakhstan intends to optimize production in March to the required level, meaning our commitments under OPEC+. As you know, the bulk of our exports go through the CPC. Accordingly, volumes via the CPC will be reduced. This will happen in March. As for the scale of the reduction, it will be in line with OPEC levels. However, we have several export routes. Specifically, a large share—at least 70 percent—goes through the CPC," Zhamauov explained.
The official clarified that 70 percent of the reduction will apply to the total volume of oil exported via the CPC.
Earlier, Kazakhstan proposed to impose a ban on the export of petroleum products, including the EAEU countries, for a period of six months.
