Kazakhstan & Azerbaijan: Caspian output set to rebound
Both countries signed up to the Opec deal in 2016. Neither seems destined to stick to the terms
Oil production in the Caspian is set to rebound as the Kashagan project in Kazakhstan reaches capacity and international majors circle new energy developments in Azerbaijan. Kazakhstan has already broken ranks with Opec in terms of the accord to rein in its crude output. Liquid production hit a record high last year and that was chiefly because of growth at the Kashagan project—which produced an average of 180,000 barrels a day last year—along with record output at TengizChevroil and Karachaganak. Kazakhstan's oil production rose to 1.93m b/d in February, compared with 1.8m b/d registered in 2016 at the time of the pact with Opec. Tengiz, Karachaganak and Kashagan are the largest oilfields i

Also in this section
2 July 2025
The global energy community will converge in Dubai on 10 December for a landmark event dedicated to shaping the future of natural gas across the region
30 June 2025
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
27 June 2025
Gas-on-gas competition pricing has grown its share of consumption significantly over the past two decades, primarily at the expense of oil-price-escalation pricing, according to the IGU
27 June 2025
Dire crude projections and heavy debt burden are weighing heavily on NOC Pemex