Kazakh CPC Blend crude loadings resume at Russian port after maintenance

Loadings of Kazakhstan's flagship CPC Blend crude oil at the Russian port of Novorossiisk have resumed after a three-day maintenance halt, the Caspian Pipeline Consortium said April 14.

In a statement, the consortium detailed extensive work carried at on both the loading facilities and other parts of the 1,500 km pipeline that runs from the Tengiz field in Kazakhstan across southern Russia to the Black Sea port of Novorossiisk. This included work on adding two new 20,000 cu m storage tanks in Kazakhstan.

It reiterated it does not normally publicize routine shutdowns, partly to limit the risk of illegal pipeline tapping, but had done so after local media claims of air pollution stemming from CPC facilities, which it rejected.

"At 0700 Moscow time (0400 GMT), mainline pumps of the Tengiz-Novorossiisk trunk oil pipeline resumed pumping of crude oil," CPC said. "Crude loadings at the marine terminal are currently taking place as normal."

CPC typically carries 1.5 million b/d of mainly Kazakh crude and has been the subject of scrutiny in the wake of Russia's invasion of Ukraine amid fears it could fall foul of the standoff between Moscow and its international opponents.

The relatively light sweet crude is a vital source for Mediterranean and world markets, and Kazakhstan relies on the route for the bulk of its strategic oil exports.

The Central Asian country has been at pains to point out its oil is not subject to the sanctions targeted at Russia's own crude oil exports. The country is not party to hostilities in Ukraine and has not recognized areas of Ukraine claimed by Moscow.

Platts, part of S&P Global Commodity Insights, assessed CPC Blend at a $3.37/b discount to Dated Brent on April 13.