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Market Chatter: Chevron-led Tengiz Oilfield Restores Oil Production

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Kazakhstan has restored its oil production to 290,000 metric tons per day following an accident that caused production losses at its largest oilfield, Tengiz, led by Chevron (CVX), Reuters reported Monday, citing energy minister Erlan Akkenzhenov.

Chevron's venture Tengizchevroil said Friday that part of the oilfield had experienced "minor operational disruption" on May 28 and output was being restored, according to the report.

Tengizchevroil said Monday its oil production was "close to normal operating rates," the report added.

Chevron did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $186.39, Change: $+3.92, Percent Change: +2.15%

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