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Kazakhstan cut oil and gas condensate production on July 22 after the Caspian Pipeline Consortium (CPC) suspended crude intake for export through its Black Sea terminal, Reuters reported, citing two industry sources.
According to one source familiar with operational data, Kazakhstan’s daily oil and gas condensate output fell to 215,600 metric tons, or about 1.63 million barrels, on July 22. That compares with a daily average of 274,000 tons, or 2.07 million barrels, since the beginning of the month.
The steepest decline was recorded at Tengiz, Kazakhstan’s largest oil field. Daily production there plunged to 406,000 barrels from 925,000 barrels, according to a Reuters source.
Kazakhstan’s Energy Ministry and Tengizchevroil, the operator of the Tengiz field, have not yet commented on the report.
Oil and gas industry expert Olzhas Baidildinov said on Telegram that the figures represented a 20% daily drop in production, resulting in “a daily loss of $32 million for the oil sector and the state budget.”
The Caspian Pipeline Consortium remains the main export route for Kazakh oil. It transports crude from the Tengiz, Kashagan and Karachaganak fields to the CPC terminal near Yuzhnaya Ozereyevka, outside Novorossiysk, where it is loaded onto tankers.
On July 21, Kazakhstan temporarily suspended crude shipments to the CPC marine terminal following a series of drone attacks on oil tankers. Bloomberg reported that the restrictions would remain in place at least until the end of the week.
CPC shareholders include Russia with a 31% stake, Kazakhstan with 20.75%, Chevron with 15%, and several private companies.
