Kazakhstan's Energy Minister Replaced Amid OPEC+ Tensions, New Atomic Agency Established

Kazakh President Kassym-Jomart Tokayev has established a new Atomic Energy Agency, appointing former Energy Minister Almasadam Satkaliyev as its head, effective March 18. This reorganization aims to improve public administration and streamline oversight of nuclear energy and uranium mining, responsibilities previously managed by the Ministry of Energy. Satkaliyev's successor as energy minister is Erlan Akkenzhenov, who took office amidst ongoing challenges in convincing U.S. and European oil companies to reduce production that exceeds OPEC+ targets. Kazakhstan's oil production remains above its OPEC+ quota, largely due to Chevron's expansion at the Tengiz oilfield. The country's crude output rose to 1.767 million barrels per day in February, against a quota of 1.468 million barrels per day. Kazakhstan, lacking nuclear power plants, holds significant uranium reserves, accounting for about 15% of the world's total supply.