Novorossiysk oil terminal suspends operations for ten days

The oil terminal located in Novorossiysk, operated by a consortium of companies including KazMunayGas (KMG) and used to ship Kazakh oil to Europe, will operate at a third of its capacity during June 15-25, the terminal's operator announced, Economica.net reported.

Petromidia refinery in Romania, owned by KazMunayGas, is supplied oil through the terminal, but the owners assured in March that the supplies would not be affected by the war.

The terminal's operator, Caspian Pipeline Consortium (CPC), is controlled by the Russian state-owned company Transneft (24%).

The share of CPC crude oil in Petromidia's oil production recipes is low compared to other types of crude oil currently in use, KMG said.

Although it seems like a routine maintenance operation, question marks remain related to the context in which the terminal was previously shut down in the spring, after the Russian invasion, on the grounds that it was affected by a storm at sea. Western companies could not confirm the damage at that time.

Kazakhstan has not recognised the pro-Russian self-declared republics in Ukraine.

CPC ships, among others, oil extracted by the US company Chevron, which is also a minority shareholder of the terminal operator. This time, the terminal operator claims that the sea must be cleared of sea mines dating from WWII. More than 50 objects that may be World War II-era explosive devices were found in the port waters, according to sources.

(Photo: Luyag2/ Dreamstime)