CPC halts Kazakh oil loadings on Aug 5 after drone attacks deter tankers
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The Caspian Pipeline Consortium suspends loadings of Kazakh crude at its Novorossiysk terminal on Aug. 5, traders tell Reuters, as tanker owners balk at the risk of drone attacks. The halt follows weeks of intermittent shutdowns since mid-July, disrupting the main export route for Kazakh oil. The disruptions persist even as Kazakhstan's energy ministry says the situation is under control.
The Shutdown
CPC suspends oil loadings at its Novorossiysk terminal on Aug. 5, the second halt this week, according to Reuters and traders. The pipeline operator had briefly resumed operations earlier but stopped again as tanker owners refused to send vessels to the Russian Black Sea port. A trader of CPC Blend crude told Reuters it took several attempts to find a tanker willing to load in the coming weeks.
Security Concerns
Drone attacks targeting vessels near the CPC terminal have disrupted operations since mid-July. The attacks, which struck ships arriving for fuel, have heightened security fears among tanker owners. The Novorossiysk terminal handles the bulk of Kazakhstan's crude exports.
Government and Consortium Response
Kazakhstan's energy ministry previously said a full shutdown of CPC was not under consideration and that the situation remained under control. As of Aug. 5, the consortium itself has declined to comment. Oil analyst Askar Ismailov earlier warned that export loadings could be halted again due to tanker shortages and storage filling up.
What's Next
The immediate resumption of loadings remains uncertain as traders scramble to find willing tankers. Analysts warn that prolonged disruptions could force Kazakhstan to seek alternative export routes, though capacity is limited.
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CPC halts Kazakh oil loadings on Aug 5 after drone attacks deter tankers
