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Markets

Kazakhstan says to join Doha oil producers' meeting

Published Updated

imageASTANA: Kazakh Energy Minister Kanat Bozumbayev will attend an oil producers' meeting in Doha on April 17 where they plan to discuss an output freeze, the ministry said on Friday.

Kazakhstan, the second-biggest oil producer in the former Soviet Union with an output of about 1.5 million barrels per day, said a day ago it was still undecided about whether to join the talks.

Bozumbayev, appointed minister at the end of March, has made no public comments on the freeze plans. His predecessor Vladimir Shkolnik had balked at the idea.

Kazakh oil production is set to decline slightly for the third year in a row in 2016 as some local fields mature.

However, the Central Asian nation plans to relaunch output at its giant Kashagan field in the Caspian in the fourth quarter, which was halted in 2013 due to leaky pipes.

Copyright Reuters, 2016

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