Reported about 13 hours ago
Chevron is accelerating its expansion of the Tengiz oilfield in Kazakhstan, aiming to boost production to around 1 million barrels per day by June, with plans to complete the ramp-up by the end of February, four months ahead of schedule. The expansion, part of a $48 billion project, comes amid Kazakhstan's ongoing struggle to manage output in line with OPEC+ quotas, as the country exceeded its production limits in 2024. Tengiz's production has already risen significantly, signaling a challenge for compliance with international agreements.
Source: YAHOO