Caspian Sea - better late than never
After much delay, a surge in Caspian Sea production in 2017 will take the oomph out of any Opec cuts
Kazakhstan's and Russia's Caspian Sea oilfields will add almost 0.5m b/d to world production in 2017 - equivalent to about 0.5% of global output. It will be enough to undermine Opec's embryonic attempts to curb production and boost oil prices. The biggest impact will come from Kazakhstan's giant but perennially troubled Kashagan oil project. With October 2016 finally seeing the field's first exports - a 200,000-barrel cargo - the Kazakhstani authorities and operator North Caspian Operating Company hope the years of delays, false starts and cost overruns are finally behind it. If so, 2017 will be the year Kashagan finally proves its worth. Kashagan is the world's second-largest field, with re

Also in this section
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector