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Ports & Terminals

Caspian Pipeline Consortium suspends operations at two of three mooring points at Black Sea terminal

Reuters

The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's oil from the Black Sea, announced on Monday that it had halted operations at two of its terminal's three mooring points.

The closures followed an inspection by the Russian transport watchdog, allowing the company to address the identified violations, although CPC did not specify the exact nature of these violations.

The inspection was conducted in response to an oil product spill caused by a tanker crash in the Kerch Strait on December 15, 2024.

According to traders' estimates, CPC may lose around 50 per cent of its loading capacity if it operates with only one mooring point.

Earlier in March, Reuters reported that oil exports via the CPC pipeline were set at 1.7 million barrels per day, or approximately 6.5 million tonnes, for April.

(Reporting by Olseya Astakhova Writing by Maxim Rodionov Editing by Tomasz Janowski)