Kazakhstan announced a cut of projected 2025 oil production to 96.2 mln tonnes, down from the previous estimate of 97.2 mln. The Ministry of Energy said this was due to multiple factors, including maintenance at the Tengiz and Kashagan oil fields and the Caspian pipeline, and adherence to the OPEC+ production agreements. Further, KazMunayGas, the national state oil company is understood to be bidding for Lukoil’s Bulgarian refinery, which would process Kazakh crude oil. The Kazakh company would seek guarantees that proceeds of the sale would not be transferred to Russia.