The Caspian Pipeline Consortium (CPC) increased daily oil pumping in March by 0.6% from February to 6.602 million metric tons (1.69 million barrels per day), according to two industry sources and Reuters’ calculations.

CPC, which carries more than 80% of all Kazakh oil exports, connects the Tengiz field in western Kazakhstan and several others with the CPC marine terminal in Russia’s Yuzhnaya Ozereyevka, near Novorossiisk.

The sources said that Kazakh oil exports via the CPC rose to 5.942 million tons in March from 5.340 million tons a month earlier, while Russian oil supplies via CPC were at 0.660 million tons from 0.591 million tons last month.

The CPC consortium does not comment on its operations.

Earlier, sources said that CPC had cut its April oil pumping plan by 6% to 6.2 million tons amid a decline of Russian crude oil intake after a drone attack on an oil depot in Russia’s south supplying volumes to CPC, and the suspension of shipments from two of its three single-point moorings (SPM) following an inspection by Rostransnadzor.

However, last week CPC resumed loadings from one of the suspended SPMs returning to normal operations.

In mid-February, the Kropotkinskaya oil pumping station for the CPC pipeline, located in the Krasnodar region, was damaged by drones and taken out of operation.

CPC shipped 63.009 million tons of oil for export in 2024, which is below the company’s plan for 70 million tons.

A conversion factor of 7.9144 barrels per one ton was used to calculate CPC Blend exports in barrels. CPC’s shareholders are Russia, which owns 31%, Kazakhstan (20.75%), Chevron (15%) and other private companies.
Source: Reuters