Kazakhstan Adjusts 2026 Oil Plans After Drone Attack

Kazakhstan announces cuts to its 2026 oil production plans following maintenance needs at major oilfields and damages from a Ukrainian drone attack on the Caspian Pipeline Consortium (CPC) terminal. The CPC, a significant conduit for Kazakh oil exports, faces operational challenges after its infrastructure was hit.

Kazakhstan has revised its oil production plans for 2026 due to anticipated maintenance at key oilfields and significant damage from a Ukrainian drone assault on the Black Sea terminal utilized by the Caspian Pipeline Consortium (CPC).

In response to growing Ukrainian attacks on Russian energy infrastructure aimed at disrupting funding for Russia's military, Kazakhstan and the Kremlin have criticized the recent strike on CPC facilities. Energy Minister Yerlan Akkenzhenov confirmed that while 2026 plans are adjusted, current year plans remain unchanged.

The CPC, channeling 1% of global crude supply, is crucial for Kazakhstan's oil exports. With its infrastructure damaged, including a single-point mooring (SPM), Kazakhstan has been forced to find alternative routes, including shipments to China. Restoration of the SPM-3 is projected by December 15, but this year's shipment estimates have decreased to 68 million metric tons from 72 million tons. The SPM-2, targeted on November 29, suffered severe damage, with only SPM-1 operational. Limited options for re-routing exist given the strain on Russia's pipeline system.

(With inputs from agencies.)