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. Last Updated: 07/27/2016

Deal Boosts Oil Output

MOSCOW () -- U.S. Chevron Corp's Tengizchevroil joint venture in Kazakhstan will more than double crude oil exports to the West this month under an agreement with Russia, Itar-Tass said Thursday.


"Russia has given this opportunity to the neighboring republic, taking into account the difficulties in its economic development," the agency said, without identifying its sources. All Kazakh oil exports outside the former Soviet Union pass through Russia, but volumes have slumped in the past year because of restrictions imposed by Russian pipeline operator Transneft. Transneft officials were not immediately available for comment on the Itar-Tass report.