Kazakhstan Halved Daily Oil Production Because of Ukraine’s Strikes on the Port of Novorossiysk

Kazakhstan has more than halved its daily oil production because of Ukraine’s strikes on the port of Novorossiysk

Kazakhstan has cut its daily oil production by more than half after loading was suspended at the export terminal of the Caspian Pipeline Consortium (CPC) in Novorossiysk, Reuters writes, citing an industry source.

According to the source, on Sunday, July 26, oil and gas condensate production in Kazakhstan fell to about 1 million barrels per day (133,200 tons), compared with an average of 2.16 million barrels per day in June.

At the same time, Kazakhstan’s Energy Ministry said that the CPC terminal had resumed accepting and shipping oil after the suspension caused by Ukraine’s attacks on the port of Novorossiysk. The ministry did not comment on the reduction in oil production.

@meduzalive