Caspian Pipeline Consortium Resumes Oil Shipments Amidst Tensions

The Caspian Pipeline Consortium (CPC) has resumed oil shipments from a Black Sea terminal following a Ukrainian drone attack. The incident halted operations at Novorossiysk, where the CPC, including Russian, Kazakh, and U.S. stakeholders, manages significant oil exports. The attack highlights the ongoing conflict's economic impacts.

The Caspian Pipeline Consortium (CPC) announced the resumption of oil shipments from a key mooring point at its Black Sea terminal, following a Ukrainian drone attack on November 29 that caused a temporary halt in operations.

The attack damaged one of the moorings at the Novorossiysk terminal, a crucial hub with Russian, Kazakh, and U.S. shareholders. This disruption is part of the ongoing conflict where Ukraine targets Russian oil facilities to weaken the Russian economy, while Russia retaliates by hitting Ukraine's energy infrastructure.

According to CPC and other reliable sources, the consortium resumed shipments from one mooring while another remains under repair. These tensions continue to impact global oil exports, as the damaged facilities play a pivotal role in Kazakhstan's oil export strategy.

(With inputs from agencies.)