Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1691
    -0.0002 (-0.02%)
     
  • GBP/USD

    1.2614
    -0.0008 (-0.06%)
     
  • Bitcoin GBP

    55,629.27
    -375.03 (-0.67%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

Kazakhstan's Kashagan field to yield 8.9 mln tonnes in 2017 -minister

(Adds quotes, background)

ATYRAU, Kazakhstan, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - Kazakhstan's giant offshore Kashagan field is expected to produce 8.9 million tonnes of oil in 2017 (about 192,000 barrels per day), Kazakh Energy Minister Kanat Bozumbayev told Reuters on Wednesday.

Kashagan had produced more than 600,000 tonnes (4.7 million barrels) since test pumping started there on Sept. 28, of which more than 500,000 tonnes had been exported, he said.

Bozumbayev also said his country was in talks with OPEC and non-OPEC oil producers and would support the organisation's stance on reducing output.

ADVERTISEMENT

"It is important that all the other (parties to the talks) reach an agreement," Bozumbayev said. "We have calculated our (production and consumption) balance and we have our own clear position. Our oil producers will not suffer."

Bozumbayev said on Tuesday he planned to attend a Dec. 10 meeting of OPEC and non-OPEC producers in Vienna, but did not commit to any output cuts.

Kazakhstan's output has been falling for the last three years, but Kashagan's launch is set to reverse the trend and the Central Asian country has previously said it did not want to cut production further. (Reporting by Mariya Gordeyeva; Writing by Andrew Osborn and Olzhas Auyezov; Editing by Maria Kiselyova and Jane Merriman)