Kazakhstan's Tengizchevroil resumes exports from Georgia's Batumi, two sources say

Tengizchevroil has resumed oil exports via the Georgian port of Batumi for the first time since March, shipping approximately 20,000 metric tons of oil since the start of July.

Tengizchevroil, ​the operator of the giant Tengiz ​field in Kazakhstan, has ‌resumed oil ​exports via the Georgian port of Batumi for the first time since March, two sources told ‌Reuters on Friday.

More than 80% of Kazakhstan's oil exports typically flow through the Caspian Pipeline Consortium, with the bulk originating from the Caspian fields of ‌Tengiz, Kashagan, and Karachaganak. But drone attacks as well as adverse weather have ‌led to the suspension of the CPC, and forced Tengizchevroil, or TCO, to turn to alternative, more expensive, routes. In the most recent disruption, the CPC on Thursday halted crude ⁠oil ​shipments at its ⁠Black Sea terminal in Yuzhnaya Ozereevka, near Novorossiysk, following a drone attack on tankers, the consortium ⁠said. According to one of the sources, approximately 20,000 metric tons of oil ​from Tengiz have been shipped to the port of Batumi since ⁠the start of July. Both sources declined to be named because they were not authorised ⁠to speak ​publicly.

The restrictions on oil exports via the CPC have led to a sharp decline in crude oil production in Kazakhstan in ⁠recent weeks. The primary shareholder of TCO is Chevron (50%); other stakes in the project ⁠are held ⁠by ExxonMobil (25%), KazMunayGas (20%), and Lukoil (5%). The Batumi Oil Terminal is owned by KazTransOil, Kazakhstan's state oil pipeline company.