The Caspian Pipeline Consortium (CPC) said on Friday it has suspended operations at a second mooring point following an accident during a loading operation and an oil spill at its Black Sea terminal.

CPC, which handles more than 1% of global oil, exports mainly from Kazakhstan via Russia and the Black Sea’s terminal.

It normally deploys three mooring points, with one usually acting as a backup. CPC, whose shareholders include U.S. majors Chevron and Exxon Mobil, said that one mooring point, SPM-1, is still operational.

CPC has been in the spotlight since Russia’s conflict in Ukraine. The consortium closed all but one of its mooring points several times in 2022 due to damage severely cutting exports via the route.

Its operations have been also interrupted this year, including by a drone strike .

Black Sea CPC Blend oil exports from the CPC terminal in Russia were set at 1.66 million barrels per day for August , or about 6.5 million metric tons, almost unchanged from the July export plan.
Source: Reuters