Oil loadings at Novorossiysk resumed later than reported, CPC clarifies

Port of Novorossiysk
Port of NovorossiyskRosmorport
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The Caspian Pipeline Consortium (CPC) said it resumed oil loadings at midnight from Tuesday into Wednesday - not earlier, as some media outlets, including Reuters, reported.

CPC said on Tuesday that it had temporarily suspended oil loadings at its Russian Black Sea terminal near Novorossiysk due to a Ukrainian drone attack which had damaged its office.

The CPC pipeline is a key export route for Kazakhstan's crude to global markets, with most volumes shipped to Europe and Asia. Russia also supplies smaller volumes to the CPC system.

CPC’s shareholders include US majors Chevron and Exxon Mobil. CPC Blend oil exports were revised down in November to about 1.45 million barrels per day from 1.55 million bpd, according to sources.

The recent strike is the second in a series of drone attacks on the Port of Novorossiysk this month, a key hub for Russian oil exports.

(Reporting by Vladimir Soldatkin; Editing by Mark Trevelyan)

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