Reuters: Kazakhstan’s oil output more than halves after Ukrainian strikes shut down its main export route

Source: Reuters

Kazakhstan cut its daily oil production by more than half after the Caspian Pipeline Consortium (CPC) export terminal in Novorossiysk suspended loading, Reuters reported, citing an industry source.

The source said Kazakhstan’s oil and gas condensate production fell to about 1 million barrels per day (133,200 metric tons) on Sunday, July 26 — down from a June average of 2.16 million barrels per day.

Kazakhstan’s Energy Ministry announced that the CPC terminal had resumed receiving and shipping oil after Ukrainian attacks on the port of Novorossiysk forced the suspension. It did not comment on the drop in production.

Kazakhstan ranks among the world’s 10 largest oil producers, Reuters said. More than 80 percent of its oil exports flow through the CPC pipeline. The country’s Energy Ministry said July 23 that it had temporarily cut oil production because of the suspended loading at the port of Novorossiysk. Before that, Ukraine had struck Russian tankers at the CPC terminal for several consecutive days.

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Reuters: Kazakhstan’s oil output more than halves after Ukrainian strikes shut down its main export route

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Reuters: Kazakhstan’s oil output more than halves after Ukrainian strikes shut down its main export route

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