Oil Production Halves At Kazakhstan’s Giant Kashagan Field

Kazakhstan’s offshore oilfield, Kashagan, has cut its production by nearly half since early May due to maintenance, sources told Reuters on Tuesday. The maintenance began on May 19 and will continue for months—until August 3. Production will stop completely at the giant Kashagan field in June due to that same maintenance. Kazakhstan’s oil production quota assigned by the OPEC+ group for May sits at 1.638 million bpd. For June, it will be lifted to 1.655. But Kazakhstan has been producing more than its quota. Due to the maintenance,…