NUR-SULTAN : Oil exports from the CPC terminal on Russia’s Black Sea coast are expected to resume on Friday, with operations at one of three storm-damaged mooring points, Kazakh Energy Minister Bolat Akchulakov said.
The CPC pipeline accounts for about 80per cent of Kazakhstan’s oil exports, and the move will save the central Asian nation’s giant oilfields operated by global energy majors from having to cut oil output, the minister told a briefing.
Repair of the other two mooring points is expected within three weeks, Akchulakov said, adding that the terminal near the Novorossiysk port usually uses just two, which are sufficient to handle its normal volume.
The pipeline, partly owned by U.S. oil giants Chevron and ExxonMobil, halted all shipments this week after a storm damaged the mooring points.