Kazakhstan wants to convince oil majors to cut output
Country's oil output exceeds OPEC+ target
Former minister moved to newly created nuclear agency
Adds context and further details from paragraph 2, comments from Russian deputy PM and Transneft CEO
By Mariya Gordeyeva and Olesya Astakhova
ALMATY, March 18 (Reuters) - Kazakhstan's energy minister will stand down from his role, the country's presidential office said on Tuesday, as the government struggles to convince U.S. and European oil companies to lower production that exceeds OPEC+ targets.
Almasadam Satkaliyev will become the head of the country's newly created atomic energy agency, the presidential office said in a decree published on Tuesday. It remains unclear who will succeed him at the energy ministry.
A recent jump in Kazakh oil output has worsened compliance with supply cuts agreed by the Organization of Petroleum Exporting Countries and allies including Russia, raising tensions in the producer group.
Kazakhstan has been producing at a record high, and well above its OPEC+ quota, as U.S. oil major Chevron CVX.N expands output at the largest Kazakh oilfield, Tengiz.
OPEC data last week showed that Kazakhstan produced 1.767 million barrels per day of crude in February, up from 1.570 million bpd in January. Kazakhstan's OPEC+ quota is 1.468 million bpd.
Russian Deputy Prime Minister Alexander Novak, asked recently about Kazakhstan's OPEC+ compliance, said everyone should meet their quotas, and the group was discussing speeding up the compensation schedule - a plan whereby nations that have been pumping too much make additional cuts.
OPEC+ sources told Reuters that record Kazakh output had angered some key members and helped sway their decision this month to proceed with a plan to start raising oil output from April.
Kazakh officials, speaking at a briefing this month, pledged to cut output in March, April and May.
The head of Russian pipeline monopoly Transneft said on Tuesday that flows via the Caspian Pipeline Consortium pipeline in March continued as normal with no drop in volume. The line exports the lion's share of Kazakh oil to world markets via Russia.
TALKS WITH MAJORS
Satkaliyev led the energy ministry from April 2023. Last week, he travelled to the U.S. for talks with oil majors Chevron CVX.N, Exxon Mobil XOM.N, Shell SHEL.L, Eni ENI.MI and Honeywell HON.O, all of which operate in Kazakhstan.
He said discussions were aimed at reducing oil output to align with OPEC+ targets. The ministry did not disclose the outcome of the talks.
Kazakhstan does not have nuclear power plants but sits on large uranium reserves, which account for about 15% of the world's total.
(Reporting by Mariya Gordeyeva in Almaty; Additional reporting by Olesya Astakhova; Writing by Maxim Rodionov and Alex Lawler; Editing by Kirsten Donovan, Louise Heavens and Jan Harvey)
((alex.lawler@thomsonreuters.com))
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