The Caspian Pipeline Consortium (CPC) on Wednesday suspended the intake of crude oil into the CPC system from the large Tengiz field in Kazakhstan due to excess stock at the terminal at Novorossiysk, which suspended oil lifting this weekend due to adverse weather conditions. The CPC runs from the Caspian coast in northwest Kazakhstan to the Novorossiysk port on Russia’s Black Sea coast and carries 80% of Kazakh crude exports. U.S. supermajor Chevron holds a 50% interest in Tengizchevroil (TCO), the operator of the…
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