(ASTANA, KAZAKHSTAN) – Kazakhstan’s oil production has dropped sharply after the shutdown of a Black Sea terminal that serves as the main export outlet for Kazakh crude and that recently came under drone attack.
Two industry sources told Reuters on Thursday that the heaviest fall was recorded at the Tengiz field, the country’s largest oil deposit, which is operated by the American company Chevron. One source said output at Tengiz more than halved to about 406,000 barrels per day on Wednesday, compared with an average of 925,000 barrels per day in July.
A second source said total production of oil and gas condensate in Kazakhstan fell on Wednesday to 1.63 million barrels per day, down from a July average of 2.07 million barrels per day.
The Caspian Pipeline Consortium stopped accepting oil from Kazakhstan after it halted loadings at its Black Sea terminal in Russia on Monday. The halt followed attacks on oil tankers. The CPC pipeline system carries more than 80 percent of Kazakhstan’s oil exports.
Russia accused Ukraine of attacking the CPC tankers. Ukraine, which has stepped up strikes on Russian energy infrastructure in recent months, did not comment on these attacks.
The suspension of exports through the CPC pipeline, which accounts for almost 2 percent of global oil supply, has added to concerns about stability on the world oil market. Further pressure is coming from the war involving Iran, which has already disrupted supplies from Saudi Arabia and other Persian Gulf states.
Reuters has previously reported that Kazakhstan was forced to stop transporting oil to its main export terminal on the Russian Black Sea coast after a series of attacks on tankers put the country’s exports at risk. Separately, Kyrgyzstan has banned the export of petrol and diesel from the country for an indefinite period.