11:31 - 4.02.2025

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February 4, Fineko/abc.az. In 2025-2026, the Kazakh authorities plan to take actions to compensate for the excess oil production in 2024 in accordance with the OPEC+ agreements, ABC.AZ reports with reference to the Ministry of Energy of Kazakhstan.

"In 2025 and 2026, Kazakhstan will take the necessary measures to fulfill its obligations and compensate for the overproduction that occurred in 2024," the official statement says.

Due to the start of the Tengiz field expansion project, Kazakhstan increased production in 2024.

Despite this, the country considers it important to comply with its obligations under the OPEC+ agreement and will continue negotiations with partners within the international legislation.