Georgia imports first Kazakh crude at $582 per tonne
This digest was compiled by AI from multiple sources — links to the originals are below.
Georgia imported its first Kazakh crude oil in July, buying 5,500 tonnes for $3.2 million at an average of $582 per tonne. The purchase is part of the Kulevi refinery's planned exit from Russian crude under EU sanctions, even as Russian oil in July cost about $416 per tonne.
Key Facts
- Black Sea Petroleum, which operates the Kulevi refinery, began processing Kazakh crude in early July and expects new Kazakh cargoes in August plus Libyan deliveries from August 20 to 30.
- Georgia imported 87,400 tonnes of Russian crude in July for $36.4 million, or about $416 per tonne.
- The Kulevi refinery must stop processing Russian crude from January 2027 to avoid the European Union's 21st sanctions package.
- Georgia and Azerbaijan have signed an agreement to resume the Baku-Supsa oil pipeline with a capacity of 6 million tonnes per year.
- The European Commission said on July 24 it gave Black Sea Petroleum a six-month period to diversify supplies away from Russian oil.
First Kazakh Cargo
Georgia imported 5,500 tonnes of Kazakh crude in July for $3.2 million, an average of $582 per tonne. In the same month Georgia purchased 87,400 tonnes of Russian oil for $36.4 million, equivalent to about $416 per tonne. The Kazakh barrels therefore cost almost $270 per tonne more than Russian supply. Black Sea Petroleum, the Kulevi refinery operator, said it began processing Kazakh crude in early July. The company expects additional Kazakh deliveries in August and a first Libyan shipment between August 20 and 30.
EU Sanctions and Supply Shift
The Kulevi refinery is obliged to stop processing Russian crude from January 2027 to avoid the European Union's 21st sanctions package. The operator is considering crude from Kazakhstan, Turkmenistan and Libya, with Libyan deliveries planned for August. On July 24 the European Commission said it gave Black Sea Petroleum a six-month period to diversify away from Russian oil. Black Sea Petroleum expects to fully abandon Russian crude in August-September. Its Libyan supply contract runs to the end of 2027 with the possibility of extension.
Baku-Supsa Restart
Georgia and Azerbaijan have signed an agreement to resume the Baku-Supsa oil pipeline with a capacity of 6 million tonnes per year. Pipeline transport is significantly cheaper than rail delivery. The restart will allow full transit of Central Asian crude to Europe.
4 sources
Georgia imports first Kazakh crude at $582 per tonne
