CPC Blend oil exports set at 1.5 million barrels per day in Sept on Karachaganak maintenance
XLE•Kazakhstan output impact
Maintenance on the Karachaganak oilfield operated by Karachaganak Petroleum Operating planned for September will reduce Kazakh oil production next month by some 450,000 metric tons or some 120,000 bpd, traders said.
Kazakhstan has cut its 2026 oil production target to 96 million metric tons from 98 million due to Ukrainian drone attacks on the Caspian Pipeline Consortium, while current oil loadings via the CPC are being carried out normally, Energy Minister Erlan Akkenzhenov said on Tuesday.
September CPC Blend export plan
MOSCOW, Aug. 26 (Reuters) - Caspian CPC Blend oil exports are planned at 1.5 million barrels per day for September, steady to lower from 1.5-1.6 million bpd in August amid maintenance at the Karachaganak oilfield, three traders said.
Actual CPC Blend oil loadings next month might be affected by weather-related disruptions and ongoing drone strikes in the Black Sea, they added.
Pipeline and terminal background
The CPC pipeline, which transports crude from Kazakhstan to the terminal near Russia's Black Sea port of Novorossiysk, accounts for about 2% of global oil supply.
The CPC terminal is considered a better destination compared to the Novorossiysk Sheskharis terminal among shipowners, traders said, after Ukraine pledged to halt strikes on non-Russian vessels exiting Black Sea ports.
