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Caspian Pipeline Consortium: Oil loading resumes at 2nd CPC mooring point at Novorossiisk

Caspian Pipeline Consortium (CPC) is Kazakhstan's main crude export route

Caspian Pipeline Consortium: Oil loading resumes at 2nd CPC mooring point at Novorossiisk

Nur-Sultan, April 25 - Neftegaz.RU. According to S&P Global Commodity Insights, Oil loading at a 2nd of 3 single-point mooring systems on the Caspian Pipeline Consortium network at Novorossiisk has resumed, CPC said in a statement April 24.

Now Loading at CPC, which is Kazakhstan's key crude export route, was suspended March 23, following storm damage.
CPC said that loading of the tanker Delta Commander at SPM 3 is currently in progress, after a brief improvement in weather conditions April 23 allowed for subsea work.

SPM 1 continues to operate normally, and SPM 2 remains temporarily offline, CPC said in the statement.
Kazakhstan said previously that 2 out of 3 SPMs operating are sufficient for normal loading volumes.

An increase in loading will help boost supply in the Mediterranean region following other disruptions, including Libyan loadings due to protests, as well as reductions in Russian crude purchases due to the Ukraine invasion.

Kazakhstan is the 2nd largest non-OPEC producer in the OPEC+ crude production group.
The country's crude production fell 3% on the month to 1.55 million b/d in March, the ministry said previously.

Kazakhstan estimated that the CPC incident would lead to a 320,000-b/d drop in output in April.

Source : Neftegaz.RU


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