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OIL: Black Sea CPC Blend Exports to Fall 9.3% m/m in Aug Amid Tengiz Works

OIL

Black Sea CPC Blend oil exports via the CPC pipeline system in August are expected to fall 9.3% m/m on a daily basis, according to Reuters.

  • Exports of about 4.9m metric tons are expected in August compared to 5.4m planned for July, said two sources familiar with the plan.
  • Planned maintenance in the Tengiz field will result in lower output and a drop in supplies to the CPC system. The work is expected to involve two of Tengizchevroil’s six production trains at Tengiz.
  • Caspian CPC blend loadings for August are expected to decline to around 1.2mb/d from an estimate of about 1.4mb/d in July, according to Bloomberg sources.

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