Kazakhstan will reroute some of the oil from at its giant Kashagan oilfield toward China after a Ukrainian drone attack on an export terminal on Russia’s Black Sea reduced loadings of Kazakh crude.
At the end of November, a Ukrainian attack damaged infrastructure at the loading terminal of the Caspian Pipeline Consortium (CPC) at the port of Novorossiysk on Russia’s Black Sea coast.
CPC operates the pipeline from the Caspian coast in northwest Kazakhstan to the Novorossiysk port, which handles 80% of Kazakhstan’s crude exports from giant oilfields in Kazakhstan operated by international oil firms.
Affiliates of Chevron and ExxonMobil are also minority shareholders in CPC, with the Russian Federation as its largest shareholder with a 24% stake.
Kazakhstan will reroute some of the oil from at its giant Kashagan oilfield toward China after a Ukrainian drone attack on an export terminal on Russia’s Black Sea reduced loadings of Kazakh crude.
At the end of November, a Ukrainian attack damaged infrastructure at the loading terminal of the Caspian Pipeline Consortium (CPC) at the port of Novorossiysk on Russia’s Black Sea coast.
CPC operates the pipeline from the Caspian coast in northwest Kazakhstan to the Novorossiysk port, which handles 80% of Kazakhstan’s crude exports from giant oilfields in Kazakhstan operated by international oil firms.
Affiliates of Chevron and ExxonMobil are also minority shareholders in CPC, with the Russian Federation as its largest shareholder with a 24% stake.
