Kazakhstan exceeds OPEC+ quota by 302,000 bpd in Feb - S&PKazakhstan produced 1.77 million barrels of oil per day in February, S&P Global Commodity Insights said in a review, citing Platts data.Kazakhstan's oil output quota under the OPEC+ deal was 1.468 million bpd in February.S&P Global Commodity Insights data indicate that Kazakhstan exceeded the OPEC+ quota by 302,000 bpd in February."Total OPEC+ output was up 440,000 bpd month over month at 40.98 million bpd, primarily due to a massive 270,000 bpd jump in production in Kazakhstan, following the expansion of its Tengiz project in January," the review says.Kazakhstan produced 1.5 million barrels of oil per day in January 2025, exceeding the quota by 32,000 bpd. Kazakhstan surpassed its OPEC+ oil production quota in January 2025 due to the launch of the Future Growth Project (FGP) at the Tengiz oil field, the Kazakh Energy Ministry said. The production increase was due to the commissioning of a new third-generation plant (TGP) at Tengiz as part of the FGP and resulted from a one-time temporary test.Kazakh Deputy Energy Minister Alibek Zhamauov said last week that he did not rule out that the deadlines for full-scale oil production at the Tengiz field could be postponed in order to allow Kazakhstan to fulfill its commitments to OPEC+. Kazakhstan plans to produce 1.5 million barrels of oil per day in March to ensure fulfillment of the OPEC quota, he said.Last year, Kazakhstan extended its oil production cuts under the OPEC+ deal by 2.2 million barrels per day for the entire first quarter of 2025. Kazakhstan plans to adhere to its allocated production quota under the OPEC+ agreement for 2025, the Energy Ministry said. (ICE ALMATY)

Fonte notizia: INTERFAX