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Black Sea CPC Blend daily oil exports set to drop 2% in November from October, sources say

By Reuters News

Oct 28 (Reuters) - Caspian Pipeline Consortium (CPC) plans to cut oil exports by 2% in November from October to about 6.4 million metric tons, or 1.69 million barrels per day, two industry sources told Reuters.

  • The loading plan points to broadly stable exports after oil output recovered and disruptions from attacks on tankers eased, the sources said

  • CPC does not comment on its commercial operations

  • CPC Blend exports remain challenging because record Black Sea freight rates have raised shipping costs amid heightened security risks, traders said

  • Oil exports through the CPC system fell to 1.5 million bpd in September from 1.6 million bpd in August due to scheduled maintenance at the Karachaganak field. Traders said output at Karachaganak was expected to rise in October following the maintenance, supporting higher loadings this month

  • CPC said in September that it shipped almost 50 million tons of oil through its Black Sea terminal between January 1 and September 25, down 4 million tons from the same period in 2025. Shipments were affected by Ukrainian drone attacks on the terminal and on tankers earlier this year

  • More than 80% of Kazakhstan's oil exports are shipped through the CPC pipeline. Most of the crude comes from the giant Tengiz, Kashagan and Karachaganak fields

  • CPC shareholders include Russia with 31%, Kazakhstan with 20.75%, Chevron CVX.N with 15%, and a number of private companies


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