
Kazakhstan is compelled to cease crude oil transportation to its primary export terminal. The reasons lie in its location and the tankers.
This is reported by Bloomberg,
A series of attacks on oil tankers in the Black Sea jeopardizes Kazakhstan’s exports, the publication writes.
The Caspian Pipeline Consortium terminal near the Russian port of Novorossiysk was scheduled to stop accepting pipeline supplies on July 21. This is because tanker companies are too apprehensive to dispatch their vessels to the facility, according to two sources familiar with the matter.
It remains unclear, Bloomberg notes, whether the announced suspension has commenced.
Oil production in Kazakhstan
Oil producers in Kazakhstan will also be forced to curtail their extraction. This will occur if pipeline supplies to the CPC are suspended by the end of this week, sources say.
These disruptions are occurring against the backdrop of a near-complete halt in crude oil shipments through the Strait of Hormuz. This is due to renewed military actions between the United States and Iran, and the Houthi rebels in Yemen threatening Saudi exports from the Red Sea.
What is known about CPC
The CPC terminal is the largest market for oil exports from Kazakhstan, accounting for approximately 80% of the country’s crude oil flows.
These primarily originate from projects in partnership with international oil giants:
Chevron Corp.,ExxonMobil Holdings Corp.,Shell Plc.What are the threats of suspending supplies
Kazakhstan is Europe’s second-largest oil supplier. A reduction in its flows will harm regional refineries at a time when they are seeking to replace supplies from the Persian Gulf, Bloomberg states.
Ukraine has not taken direct responsibility for the strikes involving Western vessels. Although information about several attacks on unnamed oil tankers in the Black Sea has been released in recent days, the article states.
Although the CPC terminal is located in Russia, exports from the facility are not subject to Western sanctions, Bloomberg noted.
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Источник: www.vesti-ua.net
