Chevron, which holds a 50% stake in Tengizchevroil (TCO), confirmed that production at the Tengiz field in western Kazakhstan has not resumed since the planned shutdown on Monday. Tengiz is one of the world’s largest oil fields, historically producing around 550,000 barrels per day in aggregate. The shutdown, originally attributed to maintenance and safety checks, has now extended to five days with no firm restart date. Chevron spokespersons noted that TCO’s joint-venture partners are consulting with Kazakh authorities to address regulatory and logistical concerns before operations can safely resume. The ongoing suspension raises questions about global supply stability, given Tengiz’s significant contribution to Kazakhstan’s export volumes.

Chevron is engaged in negotiations with Turkey’s state energy company, TPAO, to pursue prospective oil and gas licenses in the Turkish Black Sea region. The discussions, which began in late 2025, focus on joint seismic surveys and appraisal drilling in blocks scheduled for bidding this spring. Turkish officials have stressed the importance of boosting domestic hydrocarbon output to reduce import dependence, with state forecasts suggesting potential output of up to 100,000 barrels of oil equivalent per day if commercially viable reserves are confirmed. Chevron aims to leverage its deepwater exploration expertise, while TPAO seeks to capitalize on enhanced recovery techniques developed by international partners. Final agreement terms, including work commitments and cost-sharing ratios, are expected to be announced following cabinet approval in Ankara.