June 06, 2024 17:54 GMT
Kazakhstan Looking to Raise Oil Flows Via Azerbaijan
OIL
Azerbaijan and Kazakhstan are in talks to increase the transit of Kazakh oil through Azerbaijan to 5m-7m mt, SOCAR said June 6, cited by Reuters.
- Kazakhstan is trying to diversify its oil flows to reduce dependence on Russia.
- Kazakh oil flows via Azerbaijan will be around 1.7m-1.8m mt in 2024 and 2.2m mt in 2025.
- In March, SOCAR and Kazakhstan’s KazMunayGas agreed to gradually raise volumes of Kazakh oil via the BTC pipeline system to 2.2m mt.
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