The Caspian Pipeline Consortium (CPC), which handles 1% of global oil flows, suspended crude loadings at its Black Sea terminal on Feb. 19 because of bad weather and has yet to lift the storm-related restrictions, it said on Tuesday.

CPC also said that it continues receiving oil from suppliers both at the pipeline and the terminal’s reservoirs, which are almost full.

“The situation in which the CPC will be forced to stop oil transportation will be announced in due course,” CPC said, adding that oil flows via the pipeline continue.

The consortium, which delivers oil from Kazakhstan via a Black Sea terminal, last year faced maintenance issues at the terminal and oilfields, including Tengiz, the key source of oil for CPC.

CPC shipped 58.7 million tonnes in 2022, including 52.2 million tonnes from Kazakhstan.
Source: Reuters (Reporting by Reuters Editing by David Goodman)