CPC oil loadings falter over safety issues and tanker shortages
XLE•Kazakhstan faces export pressure as CPC Blend weakens
Russia's Foreign Ministry on Monday accused Ukraine of attacking oil tankers during loading at the Caspian Pipeline Consortium terminal at Novorossiysk, and said that Kyiv was trying to destabilise global oil markets.
Kyiv has not claimed responsibility or made any comment on why it may have extended its campaign against Russia to a pipeline that carries crude produced largely by U.S. and European oil majors.
None of the eight sources Reuters spoke to could be named because they were not authorised to speak publicly.
Kazakhstan's Energy Ministry said on Saturday that a complete halt to CPC operations was not under consideration and that the situation was under control. The ministry had yet to respond to a request for comment on Wednesday.
CPC declined to comment.
Landlocked Kazakhstan relies heavily on Russian ports to export crude by sea, meaning that pipeline and loading disruptions can force production cuts. In July, when attacks on tankers intensified, Kazakhstan's oil output fell by 14% from June.
