Caspian Pipeline Consortium Halts Oil Loadings in Planned Shutdown
(Reuters) — The Caspian Pipeline Consortium (CPC), which handles 1% of global oil flows, has stopped oil loadings through its single mooring points (SPM) since April 10 because of a planned shutdown, it said on Wednesday.
"The CPC terminal has not loaded or received oil into storage tanks since April 10 because of a planned shutdown," a CPC press office statement said.
CPC Blend oil loadings are scheduled to resume on April 14 after maintenance, said two traders familiar with CPC terminal operations.
"The suspension was planned and won't affect the schedule," one of the traders said.
CPC, the main export route for Kazakhstan's oil, suspended loading operations several times last year for unplanned maintenance, forcing major Kazakh oil producers to cut output and look for alternative export routes.
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