Russia’s FSB security service has started handing out clearance for foreign tankers to access the Black Sea ports, allowing for Kazakhstan’s oil exports to resume after a brief suspension, four industry sources said on Thursday.

Two industry sources said on Wednesday that foreign tankers were being temporarily barred from loading at Russia’s main Black Sea ports following new regulations, effectively halting oil exports from Kazakhstan handled largely by the Caspian Pipeline Consortium partly owned by U.S. energy majors.

However, Kazakhstan’s energy ministry said earlier on Thursday that the country had not halted oil loadings via the Russian sea ports.

On Monday, President Vladimir Putin signed a law under which foreign ships will require the approval of Russia’s FSB security service to access the country’s ports.

The CPC pipeline connects Kazakhstan’s oil fields with export markets through the Russian Black Sea port of Yuzhnaya Ozereyevka near Novorossiysk. It transports mainly Kazakh oil and a small portion of Russian oil.

Black Sea CPC Blend oil exports from the CPC terminal in Russia were set at 1.66 million barrels per day for August, or about 6.5 million metric tons, almost unchanged from the July export plan, Reuters reported last week.

Exports and oil transit via the Novorossisk port were seen around 2.2 million metric tons in July, according to industry sources.
Source: Reuters