Kazakh Tengizchevroil Plans To Cut Oil Output Due To Maintenance
MOSCOW, July 13 (Reuters) – Tengizchevroil, Kazakhstan’s largest oil producer, plans to cut oil production by 480,000 tonnes in August and by 60,000 tonnes in October due to maintenance works, the Kazakh Energy Ministry told Reuters in emailed comments.
The maintenance work will be in two phases between Aug 1 and Sept 2 as well as Oct 1-12. Kazakhstan holds a 20 percent stake in the venture via state oil and gas firm KazMunayGaz. Chevron owns 50 percent, Exxon Mobil has 25 percent and Lukarco, controlled by Russia’s Lukoil, the remaining 5 percent. (reporting by Alla Afanasyeva, writing by Denis Pinchuk, editing by Jane Merriman)