Kazakhstan exported more of its oil to the European Union in the first quarter of 2023 than it did a year ago, data showed on Tuesday, as it supplanted some Russian supplies.

The Central Asian country, which has become one of the preferred options for European refineries to replace Russian oil following an EU embargo introduced on Dec. 5, sent 71% of its oil exports to the EU from 65% a year earlier.

“Kazakhstan’s barrels are successfully supplanting Urals. For example, CPC Blend, which mixing up with oil from Kurdistan, almost perfectly replaces the Russian grade,” a trader in the Mediterranean market said.

Kazakhstan, the world’s largest land locked-country, exports more than 90% of its oil through Russian ports – via the Caspian Pipeline Consortium (CPC) and Transneft’s TRNF_p.MM network of pipelines.

Oil from Kazakhstan, unlike Russian supply, is not under Western sanctions.

Kazakhstan exports two main oil grades: CPC Blend via the CPC pipeline from the Caspian Sea to the Black Sea and KEBCO, which was introduced to differentiate it from the Russian flagship Urals blend and escape sanctions.

Italy accounted for the largest increase, with its share of Kazakh exports rising to 38% in the quarter from 28% in the same period last year, according to Kazakhstan’s Bureau of National Statistics. France and Romania also increased purchases.

Asia’s share in Kazakhstan’s oil exports remained stable, at 20% of total supplies.
Source: Reuters (Reporting by Reuters; Editing by Conor Humphries)