CPC increased oil exports by 22% in August after fewer attacks on tankers, sources say
CVX•Kazakh shipments drove the increase
Exports of Kazakh oil via the CPC system rose to 5.7 million tons in August from 4.6 million tons in July, up 25% on a daily basis, while shipments of Russian crude fell 4% to 550,000 tons from 570,000 tons, according to one of the sources.
CPC does not comment on its commercial operations.
Pipeline importance and shareholder mix
CPC, which mainly exports Kazakh crude, repeatedly suspended oil flows in July after drone attacks on tankers near its Black Sea terminal at Yuzhnaya Ozereyevka, near Novorossiisk.
More than 80% of Kazakhstan's oil exports are shipped through the CPC pipeline. Most of the crude comes from the giant Tengiz, Kashagan and Karachaganak fields.
CPC shareholders include Russia with a 31% stake, Kazakhstan with 20.75%, Chevron CVX.N with 15%, and a number of private companies.
August exports rose as loadings stabilised
MOSCOW, Sept 14 (Reuters) - Caspian Pipeline Consortium (CPC) increased its oil exports in August by 22% from the previous month to 6.288 million metric tons, or 1.6 million barrels per day (bpd), as loadings stabilised amid lower attacks on tankers, two industry sources told Reuters.
In July CPC Blend oil loadings had fallen to 5.172 million tons, or 1.32 million bpd, as a flurry of attacks on tankers in the Black Sea led the terminal to suspend loadings and most shipowners to skip requests for sailings to Russian ports.
Year-to-date loadings and September outlook
Total oil loadings at CPC's Black Sea terminal fell to 44.8 million tons in January-August, from 48.9 million tons in the same period a year earlier, a decline of about 8%.
