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Caspian Pipeline Consortium says two out of three Black Sea oil moorings are operating

September 1, 20253:37 AM Reuters0 Comments

pumpjack at sunset Caspian Pipeline Consortium (CPC), which handles about 1.5% of global oil, said on Monday it had brought one of its Black Sea mooring points back into operation after maintenance, following an accident last week at another loading point.

CPC, which mainly carries oil from Kazakhstan, said mooring points SPM 1 and SPM 3 were currently operating. The latter had been on maintenance since August 15.

The consortium said last Friday it had suspended operations at the other berth, SPM 2, following an accident and oil spill during a loading operation.

It is normal practice for CPC to operate with two mooring points and use the third as a backup.

CPC, whose shareholders include U.S. majors Chevron and Exxon Mobil, has been in the spotlight at various points in the Russia-Ukraine war.

The consortium closed all but one of its mooring points several times in 2022 due to unplanned maintenance, storms and oil spills, severely cutting exports via the route. Its operations have also been interrupted this year, including by a Ukrainian drone strike.

(Reporting by Vladimir Soldatkin; Editing by Mark Trevelyan)

Chevron Exxon Mobil

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