Oil exports by Caspian Pipeline Consortium (CPC) may fall by around 1 million barrels per day (bpd) while it repairs two of three mooring points damaged by a storm in Russia's section of the Black Sea, according to Russia's energy ministry.
The repairs may take up to two months
A storm in Russia's section of the Black Sea has damaged loading equipment of CPC, one of the world's biggest oil pipelines, which ships crude from Kazakhstan to global markets, its operator said earlier on Tuesday.
The operator of the CPC pipeline initially said one of three mooring points has been damaged by the storm and it will take at least three weeks to repair while waiting for a vessel. It said it hoped exports will not be affected, as two other berths could continue to operate normally.
"Due to the weather anomaly, CPC facilities were damaged. ... There is risk that (a second berth) is also damaged," he said in a video posted by the Energy Ministry.
