Caspian Pipeline Consortium operates at two of three Black Sea oil loading points
The Caspian Pipeline Consortium is operating at two of the three moorings at its Black Sea export terminal after a Russian court lifted restrictions on its infrastructure, it said on Wednesday, easing worries about a drop in Kazakh oil output and exports.
The CPC usually utilizes two of its three moorings, keeping one as a backup. It said it will give further information later about a resumption of operations at its third mooring, Single Point Mooring-2 (SPM-2).
A source close to the CPC said the restrictions on one of the moorings still put a strain on its operations and exports.
The court ruled on Friday that the CPC's terminal facilities should not be suspended, overturning a decision by the transport watchdog to halt two of three moorings after a snap inspection related to a massive fuel spill in December.
The resumption of loading from one of the moorings will help avert a potential fall in Kazakhstan's oil production and supplies via the CPC, which accounts for around 80 percent of the country's oil exports.
Expected Black Sea CPC Blend oil exports for April were still revised down to 1.6 million barrels per day, or 6.2 million metric tons, from 1.7 million bpd in the preliminary plan, according to two industry sources.
The decline in loading is due to a fall in Russian oil exports via the CPC, the sources said, as there will be no supplies from the oil depot in the Krasnodar region, where there was a large fire in March after a drone attack.
The CPC has been in the spotlight since the start of Russia's war 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.
The pipeline is a major oil export route for Kazakhstan, which - due mainly to rising production from the giant Chevron-led Tengiz oilfield - has been breaching export quotas within the OPEC+ producer group, which includes OPEC and Russia.
On Thursday, OPEC+ decided to raise output ahead of schedule, signaling the group was confident non-compliant members would reduce output in the coming weeks.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
9 hours ago
- Saudi Gazette
UK, four other countries sanction far-right Israeli ministers for 'inciting violence' against Palestinians
LONDON — The UK has sanctioned two far-right Israeli ministers over "repeated incitements of violence against Palestinian communities" in the occupied West Bank. Itamar Ben-Gvir and Bezalel Smotrich will both be banned from entering the UK and will have any assets in the UK frozen as part of the measures announced by the foreign secretary. It is part of a joint move with Australia, Norway, Canada and New Zealand announced on Tuesday. In response, Israel said: "It is outrageous that elected representatives and members of the government are subjected to these kind of measures." David Lammy said Finance Minister Smotrich and National Security Minister Ben-Gvir had "incited extremist violence and serious abuses of Palestinian human rights". US Secretary of State Marco Rubio condemned the move, writing on X: "These sanctions do not advance US-led efforts to achieve a ceasefire, bring all hostages home, and end the war".He urged the nations to reverse the sanctions, adding that the US "stands shoulder-to-shoulder with Israel."The US Ambassador to Israel, Mike Huckabee, joined Rubio's condemnation, describing the move as a "shocking decision" in an interview with the and Ben-Gvir have also been criticised for their stance on the war in Gaza. Both ministers oppose allowing aid into the Strip and have called for Palestinians there to be resettled outside the Foreign Office said: "As Palestinian communities in the West Bank continue to suffer from severe acts of violence by extremist Israeli settlers which also undermine a future Palestinian state, the UK has joined Australia, Canada, New Zealand and Norway in stepping up the international response."After the announcement, Lammy said: "These actions are not acceptable. This is why we have taken action now – to hold those responsible to account."We will strive to achieve an immediate ceasefire in Gaza, the immediate release of the remaining hostages by Hamas which can have no future role in the governance of Gaza, a surge in aid and a path to a two-state solution."Israeli Foreign Minister Gideon Saar said the cabinet would meet next week to respond to what he called an "unacceptable decision".The Foreign Office added that the five nations are "clear that the rising violence and intimidation by Israeli settlers against Palestinian communities in the West Bank must stop".In a statement it said the sanctions against the ministers "cannot be seen in isolation from events in Gaza where Israel must uphold International Humanitarian Law".The ministers lead ultra-nationalist parties in the governing coalition, which holds an eight-seat majority in parliament. The support of Ben-Gvir's Otzma Yehudit (Jewish Power) party, which holds six seats, and Smotrich's Religious Zionism party, which holds seven seats, is crucial to the government's at the inauguration of a new settlement in the West Bank, Smotrich said he felt "contempt" towards the UK's move."Britain has already tried once to prevent us from settling the cradle of our homeland, and we cannot do it again," he said. "We are determined, God willing, to continue building."The minister was alluding to the period when Britain governed Palestine and imposed restrictions on Jewish immigration, most significantly from the late 1930s to late has built about 160 settlements housing some 700,000 Jews since it occupied the West Bank and East Jerusalem in the 1967 Middle East vast majority of the international community considers the settlements illegal under international law - a position supported by an advisory opinion of the International Court of Justice (ICJ) last year - although Israel disputes in the Commons on Tuesday, Foreign Office Minister Hamish Falconer said that 2024 had seen the "worst settler violence" in the West Bank in the past two decades and this year was "on track to be just as violent".Commenting on the sanctions imposed on the two ministers, Falconer said they were "responsible for inciting settler violence" in the West Bank which has "led to the deaths of Palestinian civilians and the displacement of whole towns and villages".Falconer said Smotrich and Ben-Gvir had continued their "appalling" rhetoric despite warnings from the UK government, and so action was possibility of sanctioning these two ministers has long been in the October, Lord Cameron said he had planned to sanction the pair, when he was foreign secretary from 2023-24, as a way of putting pressure on UK's decision reflects growing popular and parliamentary pressure to take further action against the Israeli government for its operations both in Gaza and the West also comes after a steady escalation of pressure by the UK and other month the leaders of Britain, France and Canada issued a joint statement saying that Israel was at risk of breaking international law. The UK also broke off trade talks with the Commons last month, Lammy described remarks by Smotrich about "cleansing" Gaza of Palestinians as "monstrous" and "dangerous" shadow home secretary Dame Priti Patel did not directly comment on the sanctions, but said: "We have been clear that the British government must leverage its influence at every opportunity to ensure the remaining hostages [held by Hamas] are released, that aid continues to reach those who need it, and a sustainable end to the conflict is achieved."Liberal Democrat leader Sir Ed Davey welcomed the sanctions, but said it was "disappointing" that the Conservative government and Labour "took so long to act".It is 20 months since Israel launched a military campaign in Gaza in response to the unprecedented Hamas-led cross-border attack on Israel on 7 October 2023, in which about 1,200 people were killed and 251 others were taken least 54,927 people have been killed in Gaza since then, according to the territory's Hamas-run health ministry. — BBC
Leaders
12 hours ago
- Leaders
US-Russian Talks Shift to Moscow Amid Rising Tensions
Russia's new ambassador to Washington, Alexander Darchiev, has revealed that US-Russian talks will move to Moscow from Istanbul, telling the state TASS news agency that these talks aim to resolve bilateral issues. Darchiev noted that rebuilding Russian-American relations remains a distant goal. He added that anti-Russian factions in Congress and the US 'deep state' hinder this process. Darchiev confirmed that the next negotiations will happen soon in Moscow. Challenges in US-Russian Relations The Ukraine war has caused a major confrontation between Moscow and the West, the worst since the Cold War. Diplomats in Moscow and Washington agree that relations have never been worse, a sentiment echoed in 2024. The Ukraine war has intensified global tensions and strained US-Russian relations. This conflict has led to urgent diplomatic efforts to prevent further escalation and maintain global stability. The Trump administration views the Ukraine conflict as a proxy war between the US and Russia as President Trump has repeatedly warned about the potential for this conflict to escalate into a world war. He emphasizes the need for cautious and strategic diplomacy to avoid further escalation. Short link : Post Views: 27 Related Stories
Arab News
14 hours ago
- Arab News
Oil demand growth to continue, no peak in sight, OPEC Secretary General says
CALGARY: Oil demand growth will remain robust over the next two and a half decades as the world population grows, OPEC Secretary General Haitham Al-Ghais has said. The organization expects a 24 percent increase in the world's energy needs between now and 2050, with oil demand surpassing 120 million barrels per day over that time period. That estimate is in line with the group's 2024 World Oil Outlook. 'There is no peak in oil demand on the horizon,' Al-Ghais said, speaking at the Global Energy Show in Calgary, Alberta. He said that OPEC admired what Canada's oil industry has done to increase its oil output in recent years. OPEC is unwinding its output cuts at a faster pace than originally anticipated, lifting production by 411,000 barrels per day for May, June and July. The increases, along with concerns that US President Donald Trump's trade war will weaken the global economy, have pressured oil prices in recent months. The US Energy Information Administration said it expected Brent oil prices to fall near $60 a barrel by the end of the year and average $59 a barrel next year, hitting US oil production. Al-Ghais also said OPEC welcomed recent pushback against what he referred to as unrealistic climate goals, stressing the need to reduce emissions but not pick and choose between energy sources.
