Kazakhstan Resumes Crude Exports Through Russian Port

Kazakhstan has resumed crude oil exports through the Caspian Pipeline Consortium (CPC) after the consortium restarted accepting oil from shippers and resumed loading operations at its marine terminal in Russia's Black Sea port of Novorossiysk. The Kazakh Energy Ministry announced on July 27 that Kazakhstan will continue to operate based on ongoing assessments of the security situation and compliance with safety requirements.

The resumption of oil intake enables producing companies to restore deliveries into the CPC pipeline system and restart export operations through the marine terminal, according to Astana Times. Kazakhstan delivers just over 50% of the crude oil refined in Romania, with under 30% coming from local resources and the rest coming from Azerbaijan and Iraq.

The temporary suspension of loading operations at the CPC marine terminal last week prompted Kazakhstan to reduce oil production as a technological measure to avoid filling storage facilities after crude intake into the pipeline system was restricted. Operations at the terminal will continue, but with ongoing assessments and safety requirements in mind.