Chevron Shrugs Off CPC Disruptions Despite Ukraine Strikes

Chevron has downplayed concerns about disruptions to the Caspian Pipeline Consortium (CPC) oil pipeline, despite a series of interruptions caused by Ukrainian drone strikes.

The CPC terminal outside Novorossiysk has been hit multiple times, causing a shutdown of the 1.5 million barrel per day pipeline that connects Kazakhstan's Tengiz oil field to Russia's Black Sea port.

Chevron, the operator of Tengiz, said it is 'broadly' optimistic about the project's prospects despite these setbacks.