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CPC Pipeline Ordered to Shut for 30 Days

OIL

Oil flows on the CPC pipeline have been ordered to stop by a Russian court for 30 days, related to the handling of oil spills.

  • The pipeline brings oil from Kazakhstan to the Black Sea and handles about 1% of global oil supply to global markets.
  • Reports show that oil was still flowing on the pipeline midday yesterday but after that is not clear.
  • The pipeline delivered around 1.2 million bpd, of Kazakhstan's main crude grade, light sour CPC Blend last year. It has been hit by a number of issues since the Russian invasion of Ukraine, including storm damage and being temporarily disrupted to sweep for mines.

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