Pressure on Romania’s crude supplies eases after Kazakhstan resumes exports through Russian port Novorossiysk

Kazakhstan resumed crude oil exports through the Caspian Pipeline Consortium (CPC) after the consortium restarted accepting oil from shippers and resumed loading operations at its marine terminal in Russia’s Black Sea port of Novorossiysk, the Kazakh Energy Ministry announced on July 27, according to Astana Times.

Kazakhstan delivers just over 50% of the crude oil refined in Romania, with under 30% coming from local resources and the rest of some 20% coming from Azerbaijan and Iraq.

The resumption of oil intake enables producing companies to restore deliveries into the CPC pipeline system and restart export operations through the marine terminal. The ministry said operations at the terminal will continue based on ongoing assessments of the security situation and in compliance with all necessary safety requirements.

The announcement follows a temporary suspension of loading operations at the CPC marine terminal last week, which prompted Kazakhstan to reduce oil production as a technological measure to avoid filling storage facilities after crude intake into the pipeline system was restricted.

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