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
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
