Kazakhstan’s energy ministry said on Saturday that a complete stoppage of the Caspian Pipeline Consortium’s operations was not being considered and that the current situation was under control. The CEO of Chevron said on Friday that the pipeline is currently flowing and ships are loading this week, after CPC said it had suspended oil loadings on Thursday following a drone attack on a tanker.
Chevron owns 50% of Tengizchevroil – the operator of the giant Tengiz oilfield and the major exporter via the CPC pipeline, which carries almost 2% of global oil and is the main route for Kazakhstan’s oil exports.
(Reporting by Tamara Vaal; Writing by Lucy Papachristou; Editing by Kirsten Donovan)