Crude exports via the Caspian Pipeline Consortium restarted Monday following a week-long halt caused by Black Sea drone attacks.
Kazakhstan restarted crude oil exports through the Caspian Pipeline Consortium (CPC) on Monday after a week-long suspension due to drone attacks on its Black Sea terminal. Two tankers began loading oil from the Chevron-operated Tengizchevroil project at the Novorossiysk terminal, while producers resumed pipeline deliveries, the Energy Ministry confirmed.
The shutdown disrupted approximately 1.2 million barrels per day of CPC crude flows, equivalent to roughly 1% of global supply. Prior to the halt, the pipeline had operated at near-full capacity, with exports averaging 1.4 million barrels per day in the first quarter.
Markets showed limited immediate reaction, as traders had largely priced in the resumption following earlier reports of terminal repairs.