Kazakhstan’s Ministry of Energy admitted that the country had exceeded an OPEC+ oil production quota. The agency cited «operating procedures» within the Future Growth Project (FGP) at Tengiz as the reason for this occurrence. The ministry has vowed to compensate for the temporary increase in production.
«The current exceeding of oil production quotas in February is due to operating procedures within the Future Growth Project (FGP) at Tengiz. This project is long-term in nature and aims to secure stable energy resource supplies and fulfill our mid-term obligations,» the agency said in a statement.
Earlier this...