SerpApi.Org
The decline was particularly steep at Tengiz, Kazakhstan’s largest oil field.
Production at the field more than halved to about 406,000 barrels per day on Wednesday, July 22, down from a July average of 925,000 barrels per day, one source said.
Kazakhstan’s total oil and gas condensate output fell to 1.63 million barrels per day on Wednesday, compared with a July average of 2.07 million barrels per day.
The Caspian Pipeline Consortium, which handles more than 80% of Kazakhstan’s oil exports, had suspended shipments from the terminal.
The consortium’s Black Sea marine terminal was attacked by Ukrainian drones on Sunday, July 19, DW reported, citing a CPC statement.
Two tankers were reportedly targeted: the Liberia-flagged Asia and the Marshall Islands-flagged Nissos Ios.
Kazakhstan restored oil production to 290,000 metric tons per day in early June after output fell following an accident at Tengiz, the country’s largest oil field.
Kazakhstan produces about 2% of the world’s daily oil supply. Most of its crude is exported through the Caspian Pipeline Consortium system to the Russian port of Novorossiysk.
Kazakhstan formally applied to U.S. authorities in January to acquire Russian oil company Lukoil’s stakes in the country’s energy projects.
The Russian oil group holds a 13% stake in the operator of Kazakhstan’s Karachaganak oil and gas field, which has estimated reserves of nearly 2 billion barrels.
Lukoil also owns a 5% stake in the operator of the Tengiz field, which holds more than 10 billion barrels of reserves, as well as a stake in the Caspian Pipeline Consortium.
Kazakhstan has said it holds preferential rights to acquire Lukoil’s assets in the country.
Read also: India imports record 2.64 million barrels per day of Russian oil
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Read the original article on The New Voice of Ukraine
Section: Business
Author: Дем'ян Шевко
