• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 17 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 3 days The Federal Reserve and Money...Aspects which are not widely known
  • 22 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 7 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 10 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 11 days Goldman Betting on Cryptocurrencies
  • 14 days Сryptocurrency predictions
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Kazakhstan Oil Supply Outage To Last For At Least A Month

  • The Caspian Pipeline Consortium said that export disruptions could last more than one month.
  • CPC: Single Point Moorings (SPM) 1 and 2 are temporarily out of service.
  • Kazakhstan may have to cut crude oil production as a result of the disruptions.

Oil exports from Kazakhstan via the Black Sea terminal of the Caspian Pipeline Consortium (CPC) face at least a month of reduced shipments and disrupted loading schedules due to urgent repairs needed at two of the terminal's three Single Point Moorings, CPC said on Tuesday, as carried by Reuters.

On Monday, CPC said that Single Point Moorings (SPM) 1 and 2 are temporarily out of service. Earlier this month, while performing scheduled maintenance on SPM-1 and SPM-2, divers discovered cracks in subsea hose attachments to buoyancy tanks, the consortium said. The integrity of the equipment remains intact, and there is no threat to flora and fauna of the Black Sea, CPC added.  

The 1,500-km CPC pipeline from the giant Kazakh oilfields in the Caspian Sea to Novorossiysk, on the Russian Black Sea coast, moves over two-thirds of all Kazakhstan export oil along with crude from Russian fields, including those in the Caspian region.

On Tuesday, CPC said it was looking for a contractor to begin repair works at the two idled point moorings and that the guidance for a month of disrupted oil flows out of Novorossiysk was approximate and could change.

Reuters cited on Monday unnamed sources familiar with the matter as saying that the single operating mooring point at Novorossiysk can handle less than 70 percent of the usual capacity of the terminal. This means that Kazakhstan may have to cut oil production.

This is not the first problem with the CPC pipeline and Kazakh oil exports this year. In July this year, the flow of oil along it was suspended by a Russian court decision linked to an oil spill that occurred last year. Later, an appeals court in Russia overturned this decision granting the restart of the pipeline.

Earlier this month, media reported that Kazakhstan's state oil company, KazMunayGas, was in talks with Azerbaijan's SOCAR to reroute some volumes from CPC to the Baku-Tbilisi-Ceyhan pipeline that runs from Azerbaijan through Georgia to Turkey.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News