Oil exports via Black Sea’s Caspian Pipeline Consortium (CPC) fell to 4.1 million metric tons in November from 5.4 million tons in an initial plan, two sources familiar with the port’s operations said.

Oil loadings from the CPC terminal were suspended several times last month as a severe storm delayed loadings and Kazakhstan’s oil output declined.

Oil loadings from the CPC terminal fell some 30% behind the plan, according to Reuters calculations.

As of Tuesday, as CPC oil terminal continued oil loadings, about five cargoes from the November loading plan had yet to sail.

Loading bigger Suezmax vessels, which can carry about 135,000 tons of oil, was prioritised over smaller Aframax, which can carry 80,000-100,000 tons, to maximise daily exports, one of the sources said.

The source added the loading plan for December had been revised and several export positions were postponed until January, but details were not available. The CPC Blend oil loading plan for December was initially set at 5.6 million tons.

A CPC pipeline representative declined to comment on the terminal operations.

Russia’s Black Sea port of Novorossiisk failed to ship some 1.2 million metric tons of the 2.34 million tons of crude initially scheduled for export and transit in November, market sources said and Reuters calculations showed on Friday.
Source: Reuters (Reporting by Reuters; editing by Barbara Lewis)