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CPC pipeline is operational and ships are loading, Chevron CEO says
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CPC pipeline is operational and ships are loading, Chevron CEO says
Jul 31, 2026 11:04 AM

July 31 (Reuters) - The Caspian Pipeline Consortium (CPC)

pipeline is currently flowing and ships are loading this week,

the CEO of Chevron ( CVX ) said on an earnings call on Friday.

CPC, quoted by Russian news agency Interfax, said on Thursday it

had suspended oil loadings following a drone attack on a tanker.

Vessels expected to load oil from the CPC terminal turned away

from the port on Thursday after CPC said another tanker had been

attacked while loading at the port.

The CPC pipeline, which exports almost 2% of global oil, is

the main route for Kazakhstan's oil exports, starting from the

giant Tengiz oil field and ending at the Russian Black Sea

terminal of Yuzhnaya Ozereyevka near Novorossiysk.

Chevron ( CVX ) owns 50% of Tengizchevroil company - the operator of

Tengiz and the major exporter via the CPC pipeline.

Two industry sources said on Friday that CPC oil loadings

could be resumed later in the day. One added that the single

point mooring 3 (SPM-3) at the CPC terminal will be loading a

tanker on Friday.

CPC declined to comment on the matter.

The second source said two more tankers are expected to be

loaded at the CPC terminal on Saturday.

Earlier this week, CPC said that loadings had been restored

after a one-week suspension, adding that the tankers fixed by

Chevron ( CVX ) had arrived for loading.

Kazakhstan has more than halved its daily oil output after the

closure of the CPC terminal - its main oil export route.

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