Chevron Eyes Lukoil Assets
Chevron is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources familiar with the process told Reuters on Monday.The U.S. Treasury gave clearance last week to potential buyers to talk to Lukoil about foreign assets. Chevron would join Carlyle and other firms in the race for the Lukoil portfolio worth at least $20 billion.The United States last month imposed sanctions on Russia's two biggest oil companies, Lukoil LKOH.MM and Rosneft ROSN.MM…
Caspian Pipeline Consortium: Damaged Pipeline Is Back Online
A pumping station on the Caspian Pipeline Consortium (CPC) pipeline in Russia damaged in February is back in service, operator CPC said on Friday.The route is Kazakhstan's main means of exporting crude and also carries Russian oil to the Black Sea for export by tanker.The Kropotkinskaya pumping station was damaged in what was described as a drone attack.Moscow accused Ukraine of striking the site, something the General Staff of the Ukrainian Armed Forces acknowledged.While the pumping station was being repaired CPC continued deliveries by bypassing the facility.The pipeline carries more than 1
CPC: Russian Court Rules Not to Suspend Oil Export Terminal
The Caspian Pipeline Consortium (CPC) said on Friday that a Russian court ruled that its Black Sea export terminal facilities should not be suspended, in a major victory for the Western-backed consortium.The decision looks set to avert a potential fall in Kazakhstan's oil production and supplies via the CPC, which accounts for around 80% of the country's oil exports.Industry sources told Reuters about a flurry of diplomatic activity over the pipeline's operations between Russia and Kazakhstan before the court ruling.Russia's oil pipeline monopoly Transneft said on Thursday that its head…
Caspian Pipeline Consortium Halts Operations at Two Mooring Points
The Caspian Pipeline Consortium (CPC), which exports Kazakhstan's and Russia's oil from the Black Sea, announced on Monday that it had halted operations at two of its terminal's three mooring points (SPMs).CPC pipeline, which ships about 1% of world oil supply and is a key route for Kazakhstan's oil exports, may lose some 50% of the capacity if operating just one SPM, according to traders' estimates.CPC has been in the spotlight since Russia's war in Ukraine: the consortium closed…
Russian, Kazakh Crude Oil Exports Hit by SPM Repairs
Russian and Kazakh oil exports via the Caspian Pipeline Consortium's (CPC) Black Sea terminal face at least one month's disruption each once repairs begin on two of its three single point moorins (SPMs), CPC confirmed on Tuesday.Oil exports via the two SPMs have been suspended due to equipment damaged by bad winter weather, CPC said on Monday, confirming a Reuters report on Saturday.CPC added that a planned inspection of the third SPM at the Yuzhnaya Ozereyevka terminal would require it to be temporarily shut for a matter of hours.
Russia Warns of Sharp Caspian Pipeline Oil Export Drop After Storm
Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium (CPC) from the Black Sea may fall by up to 1 million barrels per day (bpd), or 1% of global oil production, due to storm-damaged berths, a Russian official said on Tuesday.Pavel Sorokin, a deputy energy minister, said the second berth could also turn out to be damaged after initial information about one of the three being damaged by a storm.Sorokin said the maintenance could take up to two months, which could…
Russian Investigators Search CPC After Black Sea Oil Spill
Russian investigators were conducting searches at the Caspian Pipeline Consortium (CPC) after Saturday's oil spill near the Black Sea port of Novorossiisk, the regional branch of the investigative committee said on Thursday.Russia opened a criminal investigation on the spill, which occurred during loading of a tanker moored to an offshore floating jetty. According to CPC, a crucial part of the jetty broke and caused the accident."In connection with the criminal case, representatives of the Investigative Committee are interviewing CPC employees and examining documents. The consortium provides the necessary assistance to the investigation team…
CPC Marine Terminal Loads 500 MT of Kazakh Oil
Half a billion tones of oil delivered by Kazakhstani Shippers to the Tengiz-Novorossiysk crude pipeline since the commencement of operation of CPC pipeline system was lifted from the Marine Terminal of Caspian Pipeline Consortium on November 17, 2018.The “milestone” ton was loaded on the ALEKSEY KOSYGIN tanker, said a press release from the CPC pipeline system, which mainly collects crude oil from large oil fields of West Kazakhstan, as well as crude oil from Russian producers.The first tanker was loaded at CPC Marine Terminal near Novorossiysk (near Yuzhnaya Ozereevka. Settlement, Krasnodar Krai) on October 13, 2001. In February 2018, the 5000th tanker was demoored from the Single point mooring.About 45 tankers are currently beeing loaded at CPC Marine Terminal monthly.
Kazakhstan's Kashagan Ships First Oil for Export
The first batches of oil from the giant Kashagan oil field in Kazakhstan were shipped for export on Friday via two pipelines, the Central Asian nation's Energy Ministry said. Energy majors developing the field have shipped 7,700 tonnes of oil through the private CPC pipeline and 18,800 tonnes through a pipeline operated by state-controlled firm KazTransOil, it said in a statement. (Reporting by Raushan Nurshayeva; Writing by Olzhas Auyezov; Editing by Alexander Winning)
