Kazakhstan Restarts Oil Exports After CPC Pipeline Reopens

Kazakhstan has resumed oil exports through the Caspian Pipeline Consortium after a week-long suspension. The consortium restarted accepting crude and loading tankers at its Black Sea terminal near Novorossiysk on July 27, according to the Energy Ministry.

The ministry said that two tankers, SEAMAJESTY and MILOS, were loading crude supplied by Tengizchevroil at two of the terminal's single-point moorings. The CPC pipeline had been back online since 12:28 p.m. Moscow time.

The restart followed a sharp production decline during the disruption. Kazakhstan's oil and gas condensate output fell to about one million barrels per day on July 26, less than half of the June average of 2.16 million barrels per day.