U.S. oil major Chevron announced late Sunday that crude oil loadings from its Tengizchevroil venture continue at Russia’s Black Sea CPC terminal in Novorossiysk. This statement follows a recent Ukrainian naval drone attack on the critical energy facility. The incident has drawn attention to the security of vital shipping infrastructure in the region.
Terminal Infrastructure Impacted
The drone attack reportedly damaged one of the terminal’s three crucial mooring points. This specific mooring point is now offline, impacting the facility’s overall operational capacity. Operators are currently assessing the full extent of the damage.
Consequently, analysts estimate that CPC exports have effectively halved due to the damage sustained. This significant reduction contrasts sharply with the terminal’s previous performance. Before the attack, CPC exports had experienced a period of rising shipments, indicating robust activity and high demand.
Chevron Confirms Ongoing Operations
Despite the damage and reduced export capacity, Chevron maintains that its crude oil loadings are proceeding. The company closely monitors the situation for its Tengizchevroil venture, which relies heavily on this terminal for its crude oil exports. Chevron has not provided specific details on how the continued loadings are being managed with one mooring point offline.
Broader Regional Context
In addition to the terminal incident, reports have also noted protests in Kazakhstan. This development further adds to the complex regional landscape surrounding energy operations. The situation in Kazakhstan represents another distinct factor in the broader geopolitical and economic environment affecting the area.
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