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Black Sea CPC blend oil exports will fall by 9% in August

Posted to Maritime Reporter on July 23, 2024

Two sources familiar with the plans said that the Black Sea CPC blend oil exports through the Caspian Pipeline Consortium system (CPC) are expected to drop to 4.9 million tons in August, from the 5.4 millions planned for July.

Calculations showed that CPC Blend oil will be exported on a daily basis by 9.3% less than planned in July.

Tengizchevroil, owned by Chevron, plans to perform maintenance on the giant Tengiz field next month. This will result in a lower production and a decrease in supplies to CPC.

TCO is one of the biggest oil exporters via the CPC pipeline.

CPC does NOT comment on the export plans through its system.

Chevron owns 50% of TCO. Exxon Mobil holds 25%. Kazmunaigas, the Kazakh state-owned firm, holds 20%. And Lukoil, a Russian oil company, holds 5%. (Reporting and Editing by Kirsten Doovan)

Tags: Asia Europe North America North Asia