IEA Expects Rise In Kazakhstan's Oil Production In 2025

2024-04-16 02:09:38

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 16. Kazakhstan's oiloutput in 2025 is projected to stand at 2.01 mb/d, Trend reports.

According to the outlook received from the International EnergyAgency (IEA), the country's crude output is forecast to stand at1.97 mb/d in 1Q2025.

At the same time, Kazakhstan is expected to produce some 1.94mb/d of oil in 2024, with 1.97 mb/d in 1Q and 2Q2024, 1.92 mb/d in3Q2024, and 1.91 mb/d in 4Q2024.

The agency anticipates that Kazakhstan's oil production reached1.93 mb/d in 2023 - up by 0.11 mb/d year-on-year.

Earlier, Kazakhstan's Minister of Energy, Almassadam Satkaliev,stated that the country's oil production would be around 90 milliontons in 2023, despite early plans to generate 92-93 milliontons.

According to him, about 18 million tons of oil produced in 2023went to the domestic market. About 56 million tons were exportedthrough the Caspian Pipeline Consortium.

Moreover, the country plans to increase oil production in 2024to 90.3 million tons.

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