Kazakhstan's Main Oil Export Terminal to Resume Shipments — Bloomberg
This will allow Kazakhstan to resume shipments to its main export terminal shortly
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The Caspian Pipeline Consortium (CPC) is preparing to resume oil shipments from the Russian port of Novorossiysk after a week-long hiatus, Bloomberg reports, citing sources. According to the sources, at least one tanker is expected to be loaded on Monday, July 27.
This will allow Kazakhstan to resume pipeline oil deliveries to the terminal in the near future, said one of the agency’s sources. The resumption of supplies from Kazakhstan could help alleviate one of the market’s main problems related to a supply shortage, Bloomberg reports.
Context
The CPC terminal is a key export route for Kazakhstani oil. About 80% of the country’s total production passes through it, primarily from fields developed in partnership with international corporations. According to data compiled by Bloomberg, the terminal shipped about 1.8 million barrels per day in May and June—nearly 2% of global supply. Kazakhstan ranks second among the largest suppliers of oil to Europe.
A week ago, the marine terminal suspended shipments to tankers, after which CPC stopped receiving oil from Kazakhstan. This was preceded by drone attacks on oil tankers that were either being loaded at the CPC terminal or were en route to it. Among those attacked was a tanker chartered by the American company Chevron.
The suspension of shipments to the CPC terminal led to a decline in oil production in Kazakhstan, particularly at the Tengiz oil field—the country’s largest—which is operated by Chevron. According to sources cited by The Wall Street Journal, Chevron executives discussed the situation in the Black Sea with the White House, after which the Trump administration warned Ukraine that attacks on non-Russian vessels were unacceptable. Ukraine did not take direct responsibility for the attacks. On July 21, Ukraine’s ambassador to Kazakhstan, Viktor Maiko, rejected accusations of attacks on foreign tankers, noting that Ukraine considers Kazakhstan a friendly nation.
This article was AI-translated and verified by a human editor
