Latest news with #CPCBlend
Bloomberg
2 days ago
- Business
- Bloomberg
Kazakh Oil Exports to Hold Near Record Again in Fresh OPEC+ Test
Kazakhstan's crude oil exports are set to hold near record levels again next month, highlighting the ongoing challenge the central Asian country's burgeoning supply is posing for OPEC+. Total exports of CPC Blend from Russia's Black Sea port of Novorossiysk are expected to be between 1.65 million and 1.75 million barrels a day in July, estimates from four traders involved in the shipments showed. That would be close to — or could even surpass — the record of 1.7 million, set in February.
Reuters
12-05-2025
- Business
- Reuters
Black Sea CPC Blend daily oil exports set to decline in May, sources say
MOSCOW, May 12 (Reuters) - Black Sea CPC Blend oil exports via the Caspian Pipeline Consortium (CPC) system were set at 1.5 million barrels per day (or about 6 million metric tons) for May, down from some 1.6 million barrels per day in April, two industry sources said. Kazakhstan's energy ministry said on Tuesday it is committed to the OPEC+ agreement and will continue to fulfil all its obligations in order to ensure the stability of the global energy market. On a daily basis, CPC Blend oil exports in May could fall by about 6% compared to April, Reuters calculations showed. April is one day shorter than May. CPC does not comment on monthly crude shipments through its system. The CPC pipeline, which carries more than 80% of all Kazakh oil exports, connects the Tengiz field in western Kazakhstan and a number of others with the CPC marine terminal in Yuzhnaya Ozereyevka near Novorossiisk port. The shareholders of the CPC are Russia, which owns 31%, Kazakhstan (20,75%), U.S. oil major Chevron (CVX.N), opens new tab (15%), ExxonMobil subsidiary Mobil Caspian Pipeline Company (7.5%) and other companies.
Reuters
19-03-2025
- Business
- Reuters
Black Sea CPC Blend daily oil exports set at 1.7 mln bpd for April, sources say
MOSCOW, March 19 (Reuters) - Oil exports via the Caspian Pipeline Consortium pipeline have been set at 1.7 million barrels per day, or around 6.5 million metric tons, for April, in line with the preliminary March plan, three sources familiar with the plan told Reuters. On a daily basis, oil supplies from Kazakhstan's oilfields to the pipeline were set to be unchanged from March, according to Reuters calculations. April is one day shorter than March. Kazakhstan has pledged to cut oil output to comply with its OPEC+ target, but is struggling to convince U.S. and European oil companies that operate giant oil fields in the country. Sources told Reuters previously that March CPC Blend oil loading continued in line with the plan despite expectations of a decline. Damage from recent drone strikes that were thought to affect oil exports via the CPC pipeline also didn't lead to a decline in loadings. The pipeline, which carries more than 1% of daily global supply, stretches more than 1,500 km (939 miles) and is a main route for Kazakh oil exports.
Reuters
31-01-2025
- Business
- Reuters
Kazakhstan's KMG awards BGN up to 520,000 tons of CPC Blend per month
MOSCOW, Jan 31 (Reuters) - Kazmunaigaz (KMG) awarded Geneva-based trading firm BGN up to 520,000 metric tons of CPC Blend oil per month in a tender for 2025 supply, sources said. KMG sold CPC Blend oil sourced from its share in Tengizchevroil, an operator of Kazakhstan's giant Tengiz oilfield, for loading in January-December, sources say. Geneva-based BGN won the right to load up to three Aframax (around 80,000 tons each) and two Suezmax tankers (140,000 tons each) per month, traders said. BGN did not respond to a request for comment. Kazmunaigaz declined to comment. KMG holds a 20% stake in Tengizchevroil alongside U.S. firm Chevron with 50%, ExxonMobil with 25% and Lukoil with 5%. The lifter of KMG's share of CPC Blend from its share in Tengizchevroil last year was trading firm Petraco, traders said. here.
