Oil exports of the Caspian Pipeline Consortium (CPC), which ships oil from Kazakhstan via a pipeline and subsequently a Russian Black Sea terminal, declined by 12% in November from October, two industry sources said on Thursday.

CPC, which handles around 80% of Kazakhstan’s oil exports, was attacked by a Ukrainian drone on November 29, when one of three key exporting units were severely damaged.

Since then, only one single point mooring (SPM-1) has been operational, while SPM-2 was damaged and SPM-3 has been under maintenance since the middle of November.

The sources said exports declined last month to 5.088 million metric tons, or 1.34 million barrels per day from 1.52 million bpd in October.

In January – November, CPC’s exports rose by 15% to 66.541 million tons from the year-earlier period.

CPC does not comment on its operational activity.

Kazakhstan said earlier on Thursday that it was adjusting down 2026 oil production plans due to expected maintenance at major oilfields and amid major damage to the CPC Black Sea terminal.
Source: Reuters