Why Kazakh oil sector suffers as Ukraine strikes Russia
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Why Kazakh oil sector suffers as Ukraine strikes Russia
"In late November, Ukrainian drone strikes knocked out one of the three main tanker loading facilities at the Black Sea port of Novorossiysk in Russia It's at that export terminal where the Caspian Pipeline Consortium (CPC) oil pipeline ends up, carrying crude oil all the way from Kazakhstan's massive Tengiz oil field more than 1,600 kilometers (994 miles) away. On Tuesday (January 13), news agency Reuters reported that three Greek-managed oil tankers were hit by unidentified drones in the Black Sea"
"Oil and gas condensate output in Kazakhstan plunged by 35% between January 1 and January 12 compared to December's average, a source familiar with the data told Reuters, adding that the drop was mainly due to export constraints via the Black Sea terminal. Kazakhstan's energy ministry said on Tuesday that CPC was continuing to export oil via one mooring. While Ukraine's president, Volodymyr Zelenskyy, has described drone attacks on Russian energy infrastructure as "the sanctions that work the fastest,""
Ukrainian drone strikes damaged one of three main tanker loading facilities at Novorossiysk, the terminal serving the Caspian Pipeline Consortium (CPC) pipeline that carries Tengiz crude from Kazakhstan. Reuters reported unidentified drones hit three Greek-managed tankers near the terminal on January 13. The November strike knocked one mooring offline while another was under maintenance, leaving CPC to export via a single mooring. Kazakhstan reported a 35% plunge in oil and condensate output between January 1 and 12 compared to December average, attributing the drop mainly to export constraints through the Black Sea terminal. Kazakhstan's foreign ministry condemned the incident and urged measures to prevent similar harms to bilateral relations.
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