• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 2 hours Even Shell Agrees with Climate Change!
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Can Anything Stop Bitcoin’s Bull Run?

Can Anything Stop Bitcoin’s Bull Run?

Bitcoin surged past $63,000, driven…

Kazakhstan's Crucial CPC Pipeline Is Back Online

A pipeline that Kazakhstan uses to export most of its oil began operating at full capacity over the weekend, one month after key offloading infrastructure was allegedly damaged in a storm.

The Caspian Pipeline Consortium, or CPC, said in a statement on April 25 that it had restored a buoy mooring device used for loading oil at Russia’s Novorossiysk terminal to working order after divers were able to take advantage of a “short-term improvement in the weather.”

“At present, the Delta Commander tanker is connected to [mooring device] VPU-3 and loading is being carried out,” the company said in a statement.

This is welcome news for Kazakhstan, which sends more than two-thirds of its oil to Europe via the CPC pipeline. After Russia announced the accident at Novorossiysk on March 22, Kazakhstan was forced to reduce oil production and incur considerable losses. On April 19, Finance Minister Yerulan Zhamaubayev told reporters that a preliminary assessment put those losses at up to 150 billion tenge ($337 million).

With the CPC option largely closed off, Kazakh authorities explored alternative routes, such as taking oil across the Caspian Sea and then delivering it to Europe through the Baku-Ceyhan pipeline, but this solution proved very costly. Critics of the government have since raised questions about why Kazakhstan failed to diversify oil export routes in good time so as to avoid excess dependence on a single Russian-controlled pipeline.

Following weeks of apparently negligible progress repairing the alleged damage at Novorossiysk terminal, which neither the Western members of the CPC consortium or Kazakhstan were able to inspect independently, Nur-Sultan dispatched a delegation to Moscow. Kazakh Energy Minister Bolat Akchulakov held talks on the situation with CPC General Director Nikolai Gorban on April 18. Discussions appear to have touched on issues both commercial and technical. A few days later, it was agreed that the weather had improved sufficiently for repairs to proceed.

By Eurasianet.org

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News