• 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
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 2 days Bad news for e-cars keeps coming
  • 4 days China deletes leaked stats showing plunging birth rate for 2023
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.

Russian Court Overturns Suspension Of Caspian Pipeline Consortium Exports

A Russian court of appeals in Krasnodar overturned on Monday a lower court decision that had ordered the suspension of most of Kazakhstan’s crude oil exports from a Russian port on the Black Sea. 

Last week, a Russian court ordered the Caspian Pipeline Consortium (CPC), which operates the key export route for two-thirds of Kazakhstan’s crude oil, to suspend activities for 30 days, citing environmental violations.

The exports take place from the Russian port of Novorossiysk on the Black Sea. While the port is in Russia, CPC exports consist of 90 percent crude from Kazakhstan and just 10 percent of Russian oil. 

The 1,500-km CPC pipeline from the giant Kazakh oilfields to Novorossiysk moves over two-thirds of all Kazakhstan export oil along with crude from Russian fields, including those in the Caspian region, CPC says. The consortium said in response to the court ruling last week that it “acts within the legal framework of the Russian Federation and is forced to execute the court Ruling.”

The court in Krasnodar today overturned the suspension of CPC’s business activities for 30 days and fined the consortium $3,195 (200,000 Russian rubles) instead, the consortium said in a statement.  

For reference, CPC said that “immediate suspension of its activity may lead to irreversible consequences for the operation process, emergence and development of an adverse and uncontrollable process at a technical facility, including its destruction, since the process requirements for oil transportation do not allow the immediate and simultaneous shutdown of operation.”

Related: Gazprom Suspends Nord Stream Gas Flows For Scheduled Maintenance

Last week’s ruling of the Russian court came days after Kazakhstan’s President Kassym-Jomart Tokayev offered the EU to buy more oil from Kazakhstan instead of Russia.

The Kazakh president “expressed concern about the risks to global energy security and emphasized Kazakhstan’s readiness to use its hydrocarbon potential to stabilize the situation in the world and European markets,” according to the website of the president, who had a telephone conversation with the President of the European Council, Charles Michel, last week.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

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