Kazakhstan to Suspend Oil Shipments to Its Main Export Terminal — Bloomberg

Kazakhstan will suspend oil shipments via pipeline to the Caspian Pipeline Consortium (CPC) terminal in the Russian port of Novorossiysk, Bloomberg reports, citing sources. According to the agency, oil shipments will be halted as early as Tuesday, July 21. The CPC press office declined to comment.

The CPC terminal is the main route for exporting Kazakhstani oil to the global market: it accounts for about 80% of shipments. If pipeline shipments do not resume by the end of the week, Kazakhstan will be forced to cut oil production, according to the agency’s sources.

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