Chevron says CPC pipeline flows, tankers load after July 30 Black Sea attacks
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Chevron CEO Mike Wirth said the CPC pipeline was flowing and tankers were loading on July 31, a day after two vessels were attacked near its Black Sea terminal. Kazakhstan's energy ministry reported crude intake reaching 100,000 metric tons per day from August 1 and rejected reports of a complete shutdown.
Pipeline Resumption
Chevron CEO Mike Wirth confirmed on July 31 that two of CPC’s three single-point moorings were loading tankers and the pipeline was flowing. Kazakhstan’s energy ministry said crude intake rose to 100,000 metric tons per day from August 1 and that a complete shutdown was not under consideration. The ministry noted further increases depend on tanker arrivals near Novorossiysk. CPC can continue receiving crude while storage remains available, but if loadings lag, storage fills and producers must cut output as they did in late July.
OPEC+ Quota Adjustment
On August 2, OPEC+ raised Kazakhstan’s September production target by 10,000 barrels per day to 1.628 million barrels, part of a combined 188,000-barrel increase for eight members. The group said countries that exceeded quotas since January 2024 will compensate with lower future output. A monitoring committee that includes Kazakhstan stressed the ‘critical importance’ of safeguarding maritime routes. The higher quota may have limited effect if export constraints persist, and Reuters reported OPEC+ may pause further increases after September.
Repeated Disruptions
CPC loadings had resumed on July 27 after a week-long suspension, only for two tankers to be attacked on July 30 near the terminal’s offshore moorings. The NISSOS SIFNOS was loading Tengizchevroil crude at SPM-3, while the MARATHI was waiting offshore when both were hit. Fires were extinguished without injuries or spills, and neither CPC nor Kazakhstan identified an attacker. Ukraine’s drone forces later claimed strikes on four Russian tankers but gave no details. The incidents show how swiftly export disruptions can force output cuts at Tengiz and other major fields.
What's Next
CPC expects its third single-point mooring to return to service in the third quarter, but the timing remains uncertain. Analysts warn that further attacks on Black Sea infrastructure could again force production cuts, complicating Kazakhstan’s OPEC+ compliance plans.
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Chevron says CPC pipeline flows, tankers load after July 30 Black Sea attacks
