The Kazakh authorities intend to reduce the pumping of oil through the infrastructure of the Caspian Pipeline Consortium (CPC) in March this year, Kazakhstan's Deputy Minister of Energy Alibek Zhamauov announced at a briefing.
“Currently, there are no cuts in the transportation of Kazakh oil through the CPC. However, a reduction in this area is planned this month“, Zhamauov said, answering a question from TASS.
According to him, Kazakhstan intends to optimize oil production in March in order to fulfill its obligations to OPEC+. “As you know, the lion's share of our exports goes through the CPC. Accordingly, the volumes of oil transportation through it will be reduced“, he explained. The deputy minister specified that the reduction in the transportation of Kazakh oil through the CPC infrastructure could reach “about 70% of the total“ production reduction in March.
Earlier, Satkaliev said that Kazakhstan would take the necessary measures to ensure all obligations to OPEC+, including the use of administrative mechanisms and resolving problems related to access to the pipeline infrastructure.