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Tengiz Oilfield Ramps Up Output to 550,000 Bpd after Fire
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Why This Matters
The Tengiz oilfield in Kazakhstan has resumed production at 550,000 barrels per day, nearing its peak output of 950,000 bpd, following a fire-induced shutdown. This development is expected to positively impact global oil supply and potentially ease concerns over oil shortages. Chevron-led consortium operates the oilfield.
Market Impact
Market impact analysis based on bullish sentiment with 90% confidence.
Sentiment
Bullish
AI Confidence
90%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The giant Tengiz oilfield in Kazakhstan has returned 60% of its peak production and was pumping at a rate of 550,000 barrels per day as of Sunday, following a forced shutdown for half of January due to a fire, anonymous sources told Reuters on Monday. Tengiz, which is operated by a consortium led by U.S. supermajor Chevron, is expected to reach peak levels of oil output of about 950,000 bpd by February 23, according to the sources familiar with the production data. The Tengiz oilfield was forced into a temporary shutdown on…
Original article published by
OilPrice.com
on February 9, 2026.
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Analysis and insights provided by AnalystMarkets AI.