A shareholder of the Caspian Pipeline Consortium (CPC), which exports Kazakhstan's oil via the Black Sea, estimates that the firm pumped 64.4 million metric tons of oil in 2024, well below its target to export more than 70 million tons (1.5 million barrels per day). Back in May, the consortium announced that it expects its oil exports to fall 7% short of a preliminary target owing to lower loadings from Tengiz, working out to ~65.2 million tons. Still, 2024 exports surpassed the previous record high of 63.5 million tons set in 2023. "There is interest…
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