CPC Blend oil exports set at 1.5M bpd for September
Caspian CPC Blend oil exports are scheduled at 1.5 million barrels per day for September, matching or slightly below the August range of 1.5 to 1.6 million barrels per day, according to three traders. The reduction stems from maintenance work at the Karachaganak oilfield. The traders noted that actual loadings could face disruptions from weather ...
Caspian oil exports from the CPC Blend pipeline are set at 1.5 million barrels per day for September, according to three traders. This number is either the same or slightly lower than the 1.5 to 1.6 million barrels per day range seen in August, the traders noted. The decrease is attributed to maintenance work at the Karachaganak oilfield, which is a major source of oil for the CPC pipeline.
The pipeline transports crude oil from Kazakhstan to a terminal near Novorossiysk, a Russian Black Sea port. This terminal represents about 2% of the world's oil supply.
Experts predict that potential disruptions from weather conditions and ongoing drone attacks in the Black Sea region could affect the actual oil loadings. However, shipowners are now seeing the CPC terminal as a more attractive destination compared to the Novorossiysk Sheskharis terminal. This change is due to Ukraine's pledge to stop attacking non-Russian vessels departing from Black Sea ports.
Additionally, security concerns in the Black Sea have led to skyrocketing freight rates for oil shipments in the area. As a result, many shipowners are hesitant to load oil from Russian Black Sea ports due to the heightened risks.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
