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CPC Volumes Expected 7% Lower Than Projected

OIL

The Caspian Pipeline Consortium – which flows Kazakhstan’s oil via a Russian Black Sea Terminal – expects its oil exports to fall 7% short of targets this year due to a drop from Tengiz.

  • Tengiz oil flows are projected to fall by 7.9 million metric tons (158,000 bpd) from planned levels while loadings from the Kashagan oilfield are expected to rise by 3.3 million tons this year.
  • CPC also said that "deviation" from the plan will reach 4.8 million tons. It would place this year’s volumes at 65.2 million tons – still a record.
  • It had planned to export 70 million tons in 2024 – up from the 2023 record of 63.5 million tons.
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