Kazakhstan: Oil exports via the Black Sea CPC pipeline remain stable despite Russian claims of Ukrainian attacks

(1) The Russian Ministry of Defense stated on Monday that Ukraine launched a nighttime attack on the Novorossiysk port marine transshipment complex, damaging a Caspian Pipeline Consortium (CPC) mooring point and setting fire to four refined oil storage tanks. The Ukrainian military claimed its drones struck the Sheskharis oil loading facility, located about 15 kilometers from the CPC terminal. (2) Kazakhstan’s Ministry of Energy responded on Tuesday, noting that oil transportation via CPC remains stable. Deputy Minister Yesimkhanov stated that the oil sector is operating steadily and exports are unaffected. The CPC terminal handles 80% of Kazakhstan’s crude oil exports, with 70.5 million tonnes (about 1.53 million barrels/day) expected to be supplied in 2025. Shareholders include Chevron and ExxonMobil. (3) Ukraine has not commented on the attack on the CPC facility. At the end of November last year, Ukraine attacked the CPC facility and destroyed a floating mooring point, causing CPC to suspend operations for several days.