MOSCOW (Reuters) – Kazakhstan raised crude oil and gas condensate production in February by 13% from January to a record high 2.12 million barrels per day, a source told Reuters on Monday, again exceeding its quota within the OPEC+ group of oil producers.
Excluding gas condensate, a type of light oil, crude oil production jumped last month by 15.5% from January to 1.83 million bpd, according to the source familiar with the official statistics, and Reuters calculations, which take into account Kazakhstan’s tons per barrel ratio of 7.5.
Kazakhstan has persistently exceeded its output quota of 1.468 million bpd under the production-curbing deal struck by the Organisation of the Petroleum Exporting Countries and allies including Russia – together known as OPEC+.
It has promised to cut the output and compensate for overproduction.
However, it is boosting oil production at the Chevron-led Tengiz oilfield, country’s largest.
The field saw production increase to 904,000 bpd last month from 640,000 bpd in January following completion of maintenance and due to an expansion programme, the source said.
The energy ministry did not immediately reply to a request for comment.
Output has also increased despite last-month’s drone attack at a pumping station on Russia’s stretch of the Caspian Pipeline Consortium (CPC), which exports around 80% of Kazakhstan’s oil.
Kazakhstan said last month the oil supplies via CPC were on schedule.
(Reporting by Reuters; Editing by Guy Faulconbridge and Emelia Sithole-Matarise)
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