Kazakhstan’s Energy Minister Kanat Bozumbayev said he had been negotiating with OPEC, but he believed the central Asian energy giant had already cut output enough this year.
“Kazakhstan already slashed its oil output this year, and slashed it quite noticeably. We produced about 80 million tons of crude last year and will produce around 76.5 million tons this year”, he said.
Bozumbayev said output at Kazakhstan’s largest field, Kashagan, would increase despite an overall downturn in production “as we have obligations to international partners who have invested more than $50 billion in it”. (Vestnik Kavkaza/Business World Magazine)