MOSCOW, July 31 (Reuters) - Tengizchevroil, the operator of
the giant Tengiz field in Kazakhstan, has resumed oil exports
via the Georgian port of Batumi for the first time since March,
two sources told Reuters on Friday.
More than 80% of Kazakhstan's oil exports typically flow
through the Caspian Pipeline Consortium, with the bulk
originating from the Caspian fields of Tengiz, Kashagan, and
Karachaganak.
But drone attacks as well as adverse weather have led to the
suspension of the CPC, and forced Tengizchevroil, or TCO, to
turn to alternative, more expensive, routes.
In the most recent disruption, the CPC on Thursday halted
crude oil shipments at its Black Sea terminal in Yuzhnaya
Ozereevka, near Novorossiysk, following a drone attack on
tankers, the consortium said. According to one of the sources,
approximately 20,000 metric tons of oil from Tengiz have been
shipped to the port of Batumi since the start of July. Both
sources declined to be named because they were not authorised to
speak publicly.
The restrictions on oil exports via the CPC have led to a
sharp decline in crude oil production in Kazakhstan in recent
weeks. The primary shareholder of TCO is Chevron ( CVX ) (50%);
other stakes in the project are held by ExxonMobil ( XOM )
(25%), KazMunayGas (20%), and Lukoil (5%).
The Batumi Oil Terminal is owned by KazTransOil, Kazakhstan's
state oil pipeline company.