CPC Blend oil exports were revised down in November to about 1.45 million barrels per day (bpd) from 1.55 million bpd, sources say.

The November loading schedule was cut after the cancellation of two Suezmax cargoes of about 130,000 metric tons each supplied by Chevron-led Tengizchevroil (TCO), two sources said.

Kazakhstan’s oil production declined in October amid a drop in TCO output, because it had maintenance.

CPC Blend oil exports were also affected by lower output on Kazakhstan’s Karachaganak oilfield, operated by Karachaganak Petroleum Operating, that had to trim production due to a Ukrainian drone strike on Russian Orenburg plant that processes its gas, sources said.

The CPC pipeline is a key export route for Kazakh crude to global markets, with most volumes shipped to Europe and Asia. Russia also supplies smaller volumes of oil into the CPC system.
Source: Reuters