CPC Blend oil loadings from the Caspian Pipeline Consortium (CPC) Black Sea terminal rose to 5.316 million metric tons in January, up from 4.934 million tons in December, two industry sources said.

On a daily basis CPC Blend oil loadings from the terminal near Russia’s port of Novorossiisk in November rose by some 7.7% from December to 1.36 million barrels per day (bpd), Reuters calculations showed.

Higher oil supplies via the CPC pipeline in January were due to rising oil production. Kazakhstan’s daily oil output has hit an all-time record in January amid expansion at Tengiz oilfield.

Kazakhstan’s biggest oil producer, Chevron-led Tengizchevroil (TCO), has completed maintenance at the Tengiz oilfield in mid-January and is speeding up its expansion.

Daily oil output at Tengiz oilfield rose to 870,000 barrels per day (bpd) in late January after falling to 494,170 bpd in December because of maintenance work.

The Caspian Pipeline Consortium does not usually comment on its monthly loadings.
Source: Reuters