Power failure compounded by export bottleneck delays the resumption of production at Kazakhstan oil field.

The huge Tengiz oil field in Kazakhstan has still not resumed production. A spokesperson for Chevron said on Friday that the oil field has been closed since Monday. Chevron holds a 50% stake in Tengizchevroil, the operator of Tengiz oil field. The shutdown began with a power unit fire on Sunday. The cause of the fire is still unclear, and a Kazakh government committee is investigating. This incident has compounded the difficulties in Kazakhstan's oil industry, as its main export gateway on the Black Sea has been bottlenecked due to drone attacks in Ukraine. Three industry sources had previously said on Tuesday that the shutdown of the Tengiz oil field could last for 7 to 10 days. JPMorgan Chase said on Friday that Tengiz oil field, which accounts for nearly half of Kazakhstan's production, may remain shut down for the remainder of this month. Kazakhstan's daily average crude oil production in January is expected to be only 1 to 1.1 million barrels, while the normal level is around 1.8 million barrels.