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https://www.intellinews.com/kazakhs...ussia-announces-storm-damage-shutdown-239144/
Kazakhstan assesses how to bypass CPC pipeline after Russia announces 'storm damage' shutdown
By bne IntelIiNews March 24, 2022
Kazakhstan's energy ministry said on March 23 that it was working on alternative oil export routes after the Caspian Pipeline Consortium (CPC) stopped operations to carry out repairs on what it said were two of three mooring points that Russia reported as damaged by a storm in its section of the Black Sea.
Repairs could take up to two months, RIA news agency quoted Russia's energy ministry as saying on March 22. Russian officials noted that Russian and Kazakh oil exports via the CPC from the Black Sea may fall by up to 1mn barrels per day (bpd), equivalent to 1% of global oil production.
....
The pipeline ships around 1.2mn barrels per day, or 1.2% of the global demand. Any major disruption to its flows would place further strain on a global oil market, which faces one of the worst supply crunches since the Arab oil embargo in the 1970s.
...
Major global trading houses such as Vitol and Trafigura said on March 22 they estimated current Russian oil disruptions at 2mn-3mn barrels per day. They noted that the world could barely cope with a disruption exceeding 2mn bpd as it would lead to another price spike and an economic recession.
Kazakhstan assesses how to bypass CPC pipeline after Russia announces 'storm damage' shutdown
By bne IntelIiNews March 24, 2022
Kazakhstan's energy ministry said on March 23 that it was working on alternative oil export routes after the Caspian Pipeline Consortium (CPC) stopped operations to carry out repairs on what it said were two of three mooring points that Russia reported as damaged by a storm in its section of the Black Sea.
Repairs could take up to two months, RIA news agency quoted Russia's energy ministry as saying on March 22. Russian officials noted that Russian and Kazakh oil exports via the CPC from the Black Sea may fall by up to 1mn barrels per day (bpd), equivalent to 1% of global oil production.
....
The pipeline ships around 1.2mn barrels per day, or 1.2% of the global demand. Any major disruption to its flows would place further strain on a global oil market, which faces one of the worst supply crunches since the Arab oil embargo in the 1970s.
...
Major global trading houses such as Vitol and Trafigura said on March 22 they estimated current Russian oil disruptions at 2mn-3mn barrels per day. They noted that the world could barely cope with a disruption exceeding 2mn bpd as it would lead to another price spike and an economic recession.
