ASTANA – Tengizchevroil cut oil production by over half due to a storm in the Black Sea from 84,000 to 39,000 tons, Finance.kz reported on Nov. 29. With similar decreases anticipated at two other fields – Kashagan and Karachaganak – the overall decline in production at the country’s major fields stands at 56%.
On Nov. 27, the Caspian Pipeline Consortium (CPC) suspended oil transshipment at the marine terminal due to weather conditions. Storm warnings led to the halt of oil loading at the CPC terminal, with tankers redirected to waiting areas.
The company’s tank farms are nearing full capacity, resulting in reduced rates for receiving oil from shippers.
The Kazakh Energy Ministry has not provided a timeline for when the situation is expected to normalize. The reduction and adjustment of production are expected to remain at current levels so far.
