Exports of the CPC blend from the Black Sea via the network of the Caspian Pipeline Consortium CPC are expected to drop by 12% in May compared to the scheduled shipments for April, due to a planned oilfield maintenance, Reuters reported on Wednesday, citing sources with knowledge of the matter. CPC blend exports are seen down to around 4.9 million metric tons in May, compared to 5.4 million tons planned to be exported in April, according to Reuters’ sources.
The CPC pipeline runs from the Caspian coast in northwest Kazakhstan to the Novorossiysk port on Russia’s Black Sea coast and carries 80% of Kazakh crude exports. It wasn’t immediately clear when the maintenance at the Tengiz oilfield will begin or how long it will take, the sources told Reuters. The price of CPC Blend cargoes loading for May has already increased, due to the expected drop in export volumes.
Crude Oil Exports Black Sea Caspian Oilfield Maintenance
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Oil Exports Hit a New Record High in 2023The US has become a major player in the global oil market, with record-breaking crude oil exports in 2023 following the lifting of a decades-long ban.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Iraq Points the Finger at Foreign Firms for Stalled Kurdish Oil ExportsIraq's Oil Minister has said that international oil firms and Kurdish authorities are both responsible for stalled exports from the region.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Sudan Oil Exports under Force Majeure As Pipeline Ruptures in War ZoneSudan has declared force majeure on crude oil exports from landlocked neighbor South Sudan, following a major rupture in the pipeline carrying crude from South Sudan to a port in Sudan in an area with active military activity.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Oil Exports or Carbon Credits The Global South's DilemmaAsking developong nations to stop exploiting their oil, gas, or mineral resources and rely exclusively carbon credit income is going a step too far
Source: OilandEnergy - 🏆 34. / 68 Read more »
Russia's Seaborne Crude Oil Exports Hit 11-Month HighRussia's seaborne crude oil exports hit an 11-month high in April, likely due to its refineries being knocked offline by Ukrainian drones.
Source: OilandEnergy - 🏆 34. / 68 Read more »
Mexico Set to Slash Oil Exports by Over 300,000 Bpd in MayMexico is set to slash its exports by 330,000 barrels per day next month as it deals with lower domestic output and rising demand from local refineries.
Source: OilandEnergy - 🏆 34. / 68 Read more »