Output at Kazakhstan’s Tengiz oilfield being restored gradually -Chevron

Author of the article: LONDON — Kazakhstan’s largest oil venture Tengizchevroil (TCO) is gradually increasing production to reach normal rates at the Tengiz field after protests limited output there in recent days, operator Chevron said on Sunday. Production at Tengiz, Kazakhstan’s largest oilfield, was curtailed in the past few days as some contractors disrupted train…
Output at Kazakhstan’s Tengiz oilfield being restored gradually -Chevron

Author of the article:

LONDON — Kazakhstan’s largest oil venture Tengizchevroil (TCO) is gradually increasing production to reach normal rates at the Tengiz field after protests limited output there in recent days, operator Chevron said on Sunday.

Production at Tengiz, Kazakhstan’s largest oilfield, was curtailed in the past few days as some contractors disrupted train lines in support of protests taking place across the central Asian country.

“TCO is safely and gradually increasing production to reach normal rates,” Chevron, the largest foreign oil producer in Kazakhstan with a 50% stake in the Tengizchevroil joint venture, said in a statement.

Kazakhstan is a major oil producer with output of about 1.6 million barrels per day (bpd) in recent months, and has rarely seen production disrupted by unrest or natural disaster.

TCO produces around 700,000 bpd. Trains are used to transport liquefied petroleum gas (LPG), a by-product from the oil extraction, sources told Reuters.

(Reporting by Ron Bousso; Editing by Susan Fenton)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Treasury Market’s Brutal New Year Conjures Return of 2% Yields
Read More

Treasury Market’s Brutal New Year Conjures Return of 2% Yields

Author of the article: Bloomberg News Michael MacKenzie and Edward Bolingbroke (Bloomberg) — The torrid selloff that raced through the Treasury market this past week has investors bracing for further losses that would push the benchmark 10-year yield toward 2%, with growing expectations the Federal Reserve is poised to act quickly to tamp down the…
Ukraine Latest: Russia to Open Citizenship Centers in Kherson
Read More

Ukraine Latest: Russia to Open Citizenship Centers in Kherson

Author of the article: Bloomberg News Bloomberg News Bloomberg News (Bloomberg) — Russia and Ukraine made the first public exchange of the bodies of dead soldiers, as the war moves past the 100-day mark.  Ukraine warned that alternative routes for grain exports would not suffice to avert a global food crisis as Russia continues to…
Asian stocks, FX tumble as Russia attacks Ukraine
Read More

Asian stocks, FX tumble as Russia attacks Ukraine

Author of the article: Asian currencies and stocks were battered on Thursday with shares in Singapore and India losing about 3% as Russian attacks on Ukraine spoiled investors appetite for risk. Russian forces fired missiles at several Ukrainian cities and landed troops on its south coast on Thursday, officials and media said, after President Vladimir…