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CPC’s Black Sea oil terminal shuts down one of moorings for maintenance

Caspian Pipeline Consortium (CPC), which exports Kazakhstan’s oil from the Black Sea, said on Wednesday it was conducting maintenance at one of the terminal’s three mooring points, while all the cargoes were being shipped on time and in full.

The consortium, which handles around 1.5% of global oil, also said that it has loaded 21.1 million metric tons of oil from its terminal to 192 tankers year to date.

CPC said single point mooring-2 (SPM-2) has been idled due to a planned replacement of hoses. Once the maintenance is completed, similar work will be performed at SPM-1 as well.

It also said that the consortium has set up anti-flood protection at its facilities, especially at Kazakhstan’s Atyrau.

Russia and Kazakhstan for the past few weeks have battled the worst floods in decades, which have forced tens of thousands of people to evacuate.

CPC plans to export more than 70 million metric tons (1.5 million barrels per day) of oil in 2024, up from a record high 63.5 million tons in 2023.
Source: Reuters (Reporting by Reuters; Editing by David Goodman and Emelia Sithole-Matarise)

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