May CPC Blend oil exports set to fall 12% amid Tengiz maintenance, sources say

Black Sea CPC Blend oil exports via the Caspian Pipeline Consortium (CPC) pipeline system are set to decline to about 4.9 million metric tons in May from 5.4 million planned for April, three sources familiar with the matter said.

On a daily basis CPC Blend oil exports will decline by some 12% in May from April’s plan, Reuters calculations showed.

A drop is expected due to planned maintenance on the Tengiz oilfield, the sources said.
Tengizchevroil said on Wednesday it plans to conductscheduled maintenance at one of six production trains at the Tengiz oilfield in Kazakhstan in May amid reports of an expected decline in CPC Blend oil exports next month.
The expected decline in exports has already supported prices of CPC Blend oil cargoes loading next month. BFO-CPC

Kazakh Energy Ministry did not reply to Reuters’ requests for comment. CPC doesn’t normally comment on export plans via its system.
Source: Reuters (Reporting by Reuters reporters in Moscow, additional reporting by Robert Harvey and Ron Bousso in London; editing by Jason Neely and Louise Heavens)