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Kazakhstan says it exceeded OPEC+ output quota in March
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Country pledges to fulfil its obligations in April
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Kazakhstan says it didn't cut CPC oil exports in March
(Recasts, adds detail)
ALMATY, April 10 (Reuters) - Kazakhstan has been in
talks with oil producers about reducing output, which has been
above the country's OPEC+ quota, Interfax news agency reported
on Thursday citing the energy ministry.
Kazakhstan has been pumping oil above the limit agreed by
the Organization of the Petroleum Exporting Countries and its
allies led by Russia for months.
OPEC+ members have been pressing Kazakhstan to reduce output
to honour the agreed quotas.
Kazakhstan's energy ministry said on Thursday that the
country exceeded its OPEC+ quota in March but will fulfil its
commitments in April and partially compensate for earlier
overproduction, according to Interfax.
Numerous Western majors, such as Chevron ( CVX ), Shell
, ExxonMobil ( XOM ), TotalEnergies and Eni
, are active in Kazakhstan, a top 10 global oil
producer.
A production boost at the Chevron ( CVX )-led Tengiz oilfield,
Kazakhstan's largest, has been the main contributor to the
country's overall increase in oil output.
Interfax also cited the energy ministry as saying that
Kazakhstan did not cut oil exports via the Caspian Pipeline
Consortium (CPC) last month.
According to industry sources, expected Black Sea CPC Blend
oil exports for April were revised down. The pipeline's
infrastructure suffered from Ukrainian drone attacks in February
and March. Russia also restricted CPC's exporting capacity at
the Black Sea, which was partially restored earlier this week.