CPC lifts August oil shipments 22% as tanker attacks ease, Kazakh output surges

Caspian Pipeline Consortium reported a 22% rise in August oil exports, reaching 6.288 million metric tons (1.6 million bpd) after loadings steadied following fewer attacks on tankers in the Black Sea. July had seen a drop to 5.172 million tons as drone strikes forced the terminal to halt shipments and many shipowners avoided Russian ports. Kazakh oil volumes increased to 5.7 million tons, a 25% jump, while Russian crude shipments slipped to 550,000 tons, down 4% from the previous month.

Total loadings at the Black Sea terminal are still about 8% lower than the same period last year. CPC expects September exports to fall to roughly 1.5 million bpd due to scheduled maintenance at the Karachaganak oil and gas condensate field. The consortium, which transports over 80% of Kazakhstan's oil, is owned by Russia, Kazakhstan, Chevron and several private firms.