Overview
- Kazakhstan’s oil and condensate production fell about 6% in the first two days of December after damage at the CPC terminal disrupted loadings.
- The CPC pipeline resumed flows using a single point mooring after a mooring was damaged, with a third unit under maintenance and officials saying one mooring is fully operational.
- An industry source estimated the reduced setup cuts CPC loading capacity by roughly 900,000 tons per week.
- Producers plan to send up to 30% more crude west via the Baku–Tbilisi–Ceyhan pipeline in December compared with November.
- Kazakhstan is awaiting a U.S. Treasury OFAC decision on Russian oil transit to China that could halt those shipments and jeopardize about $150 million in annual transit fees.