Kazakhstan Can’t Make Supermajors Cut Oil Production

Kazakhstan cannot reduce its oil production as it has no right to impose output reductions on international firms that are operating more than 70% of Kazakhstan’s oilfields, Energy Minister Yerlan Akkenzhenov said on Thursday. “The republic has no right to enforce production cuts” on the three large international consortiums, Bloomberg quoted Akkenzhenov as saying. Earlier this month, Chevron’s chief executive, Mike Wirth, told analysts at the supermajor’s Q1 earnings call that “On OPEC plus in Kazakhstan,…