"The production restriction applies to deposits belonging to the category of medium, large and giant deposits ... the specified list of subsoil does not include small and small deposits, which are expected to naturally decrease production due to economic factors," the RIA Novosti statement said. .
According to the ministry, within the framework of the draft government decree “On introducing temporary restrictions on the use of subsoil blocks for exploration and production and hydrocarbon production”, a “non-discriminatory approach” is provided to all mining companies taking into account the needs of the domestic market of Kazakhstan.
On April 12, OPEC + countries signed an agreement to reduce oil production by 9.7 million barrels per day from May 1, 2020 by two years.
Director of the Energy Development Fund Sergey Pikin in an interview with NSN commented on the situation in the oil market.