Kazakhstan Oil Output Plummets Amid Drone Attacks and Terminal Closure
Kazakhstan's oil production has taken a significant hit after drone attacks forced the closure of its main exporting terminal, according to industry sources. The Black Sea terminal is operated by the Caspian Pipeline Consortium (CPC), which accounts for over 80% of Kazakhstan's oil exports.
The impact on oil output has been particularly sharp at the Chevron-led Tengiz field, Kazakhstan's largest oilfield. Output there more than halved to around 406,000 barrels per day on Wednesday from an average of 925,000 bpd in July.
CPC had suspended loadings at its Black Sea terminal after attacks on oil tankers were attributed to Ukraine. The suspension has added to global oil concerns, as the war in Iran has already disrupted supply from Saudi Arabia and other Gulf producers.