financetom
Business
financetom
/
Business
/
Japan's Inpex supplied oil to Germany from Kashagan, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Inpex supplied oil to Germany from Kashagan, sources say
May 30, 2024 4:23 AM

MOSCOW, May 30 (Reuters) - Japan's Inpex ( IPXHF ) for

the first time last month supplied crude oil from its share in

the giant Kashagan oil field in Kazakhstan to a German refinery

via Russia's Druzhba pipeline, three sources familiar with the

shipment and export data told Reuters on Thursday.

"It was a trial supply of oil from Kashagan in April, no

supplies (are) planned in May", one of the sources familiar with

the plans said.

The shipment - to the Schwedt refinery - shows how

Kazakhstan is developing oil exports via the Druzhba pipeline,

which connects Russian oil fields to Europe and which otherwise

would be empty due to the European Union embargo on Russian

crude.

Kazakhstan doesn't have a direct access to international sea

routes and the lion's share of its oil exports pass through

Russian territory. Druzhba's northern leg crosses Belarus and

goes to Poland and Germany.

Kazakhstan has been supplying oil to Germany since 2023 via

Druzhba as the EU embargo doesn't forbid the purchase of

non-Russian oil supplied via Russian pipelines. But up to now

this has mostly been done by Kazakhstan oil producer

Karachaganak Petroleum Operating (KPO), in which Eni

and Shell are the largest shareholders.

Another source added that the Inpex ( IPXHF ) shipment went well and

more supplies from Kashagan to Germany are being considered this

year by the Japanese company and other shareholders, but the

counterparts need to agree on the details of such supplies.

Inpex ( IPXHF ) declined to comment on the matter due to

confidentiality obligations.

Kashagan's operator, the North Caspian Operating Company

(NCOC), and the Kazakh Energy Ministry did not immediately

respond to a request for comment.

NCOC is a consortium which includes Shell, Eni,

TotalEnergies and Exxon Mobil Corp ( XOM ), as well as

Inpex ( IPXHF ), Kazmunaigaz and China Petroleum Oil Corp.

NCOC shareholders have been looking for additional export

routes as alternatives to Kazakhstan's main export outlet - the

Caspian Pipeline Consortium (CPC) - after multiple stoppages of

exports via the pipeline in 2022.

Kazakhstan's oil supplies to Germany have recently been

challenged by a technical issue between Russia's Transneft

pipeline operator and Poland's PERN, putting shipments at risk,

but the matter has been resolved.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved