ALMATY (Pakistan Point News / Sputnik - 12th January, 2021) Kazakhstan is planning to increase the output of oil and gas condensate up to 86 million tonnes in 2021, compared to the 85.7 million tonnes pumped last year, the Kazakh Energy Ministry said on Tuesday.
The statement was made at the Kazakh government's meeting that focused on the achievements that the country reached in the social and economic spheres last year.
"The 2021 production plan - 86 million tonnes," the ministry said.
On January 5, the OPEC+ alliance agreed to limit the volume of their oil production to 7.2 million barrels a day in January to 7.125 mb/d in February and 7.05 mb/d in March. However, Russia and Kazakhstan were allowed to slightly increase production over the next two months by 65,000 and 10,000 barrels a day, respectively.
Kazakh Energy Minister Nurlan Nogayev said that the OPEC+ agreement would stabilize the global oil market. The Kazakh energy ministry estimated that the country would produce 1.427 million barrels a day in February and 1.437 million in March.
