Kazakhstan's Energy Ministry has expressed hope for a swift resumption of crude oil receipts via the Caspian Pipeline Consortium (CPC) following drone attacks, according to infohub.kz.
The CPC handles nearly 80% of Kazakhstan's total oil exports. The ministry said it is in constant contact with CPC management, major shippers, vessel owners, and relevant government agencies. “Continuous consultations are underway to develop solutions aimed at ensuring safe navigation conditions and the earliest possible resumption of stable Kazakh oil exports to global markets,” the Energy Ministry said in an official statement.
The ministry confirmed a temporary suspension of loading operations at the CPC's marine terminal near Novorossiysk, Russia, to ensure the safety of vessels, crews, and the environment in the Black Sea area. All production and technical facilities of the consortium are in good working order and operating normally, ready to resume transshipment once the situation stabilizes.
“Due to restrictions on oil intake into the pipeline system and to prevent tank farms from overflowing, oil producers have made a controlled adjustment of daily production levels, leading to a temporary reduction in output,” the Energy Ministry said, emphasizing the technical nature of the measure.
After the CPC's Black Sea terminal closure, Kazakhstan's oil output fell by more than 20%. According to Reuters, on July 22, production dropped to 1.63 million barrels per day, down 21.3% from the July average of 2.07 million barrels. The sharpest decline was at the Tengiz field, where output more than halved—from 925,000 to 406,000 barrels per day. Oil and gas sector expert Olzhas Baidildinov estimated daily losses for the oil sector and the budget at $32 million.
Earlier, Bloomberg reported that the CPC would be forced to limit oil intake due to Ukrainian drone attacks on tankers. In recent days, several vessels heading for loading or already loading Kazakh oil have been attacked.