Kazakhstan to Cut Oil Exports

Kazakhstan plans to cut its oil exports by around 2% this year to 71 million tons, its energy ministry told Reuters, mainly at the expense of China, amid a production decline.

This is down from 72.5 million tons Kazakhstan exported overseas in 2018, Reuters reported.

Kazakhstan plans to reduce its own output to 89.5 million tons in 2019 from 90.3 million tons last year, due in part to planned maintenance shutdowns at its three largest oil fields.

Its key exporting route is the Caspian Pipeline from western Kazakhstan to the Black Sea port of Novorossiisk. Supplies via that route are set to remain broadly unchanged this year.

Kazakhstan will slash its exports to China via the Atasu-Alashankou pipeline to 0.5 million tons from 1.38 million tons in 2018, the energy ministry said.

It will also completely halt supplying Russia’s Orenburg refinery. Last year oil supplies there from Kazakhstan stood at almost 0.5 million tons.

source: Financial Tribune