Key Kazakh oilfield hit by protests

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Updated 06 January 2022
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Key Kazakh oilfield hit by protests

  • Kazakhstan is a major oil producer with an output of about 1.6 million barrels per day (bpd) in recent months

LONDON: Oil production at Kazakhstan's top field Tengiz was reduced on Thursday, its operator Chevron said, as some contractors disrupted train lines in support of protests taking place across the central Asian country.

Demonstrations in the west of the country against a New Year's Day fuel price hike have quickly grown into deadly anti-government riots with Russia sending in paratroopers to put down the countrywide uprising. read more

Kazakhstan is a major oil producer with an output of about 1.6 million barrels per day (bpd) in recent months and has rarely seen production disrupted by unrest or natural disaster.

“TCO production operations continue, however, there has been a temporary adjustment to output due to logistics,” Chevron, the largest foreign oil producer in Kazakhstan with a 50 percent stake in the Tengizchevroil (TCO) joint venture, said in a statement.

Protestors at the field have disrupted train activity which is used to export oil, sources told Reuters.

TCO produces around 700,000 bpd. It was not clear by how much output has been reduced. Other top fields in Kazakhstan are onshore Karachaganak and offshore Kashagan.

Besides Chevron, the three key projects involve most top foreign companies including Exxon Mobil, Lukoil, Royal Dutch Shell (RDSa.L), Eni, TotalEnergies (TTEF.PA), CNPC and Inpex.

A Shell spokesperson said production at the Karachaganak and Kashagan ventures was continuing.

“We are following developments in Kazakhstan closely. We are focusing on keeping our people and operations safe, working closely with our venture partners... We are keeping the situation under constant review.”


Saudi-US roundtable meeting held to strengthen economic relations

Updated 20 January 2026
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Saudi-US roundtable meeting held to strengthen economic relations

RIYADH: The Saudi-US Roundtable was held in Riyadh on Jan. 20, coinciding with the ninth session of the Saudi-US Trade and Investment Association, organized by the General Authority for Foreign Trade.

The meeting was attended by the Deputy Governor of International Relations at GAFT Abdulaziz Al-Sakran and the Secretary General of the Federation of Saudi Chambers Waleed Alorainan. It was also attended by the President and CEO of the Saudi-US Business Council Charles Hallab and representatives from government agencies, as well as 83 private sector companies.

The meeting reviewed ways to strengthen economic relations between Saudi Arabia and the US. It also explored opportunities for trade and investment cooperation in various sectors that play a fundamental role in developing trade ties and increasing bilateral trade volume, which reached approximately $33 billion in 2024.

Al-Sakran indicated that the roundtable meeting comes within the framework of the authority’s keenness to enhance the role of the private sector in developing trade relations by enabling it to access foreign markets and removing all external obstacles it faces, in coordination with relevant entities.

He noted that trade relations between the Kingdom and the US have witnessed significant economic activity, resulting in a trade volume exceeding $500 billion over the past decade.

It is worth noting that GAFT works to develop bilateral trade relations by overseeing business councils and coordination councils. In addition, it enables Saudi Arabia’s non-oil exports to access foreign markets and helps overcome the various challenges they face.