CPC oil export disruption may last for more than a month
International Business News – The Caspian Pipeline Company (CPC) said on Tuesday that the pipeline faces at least a month of reduced shipments and shipment disruptions as two of the three single-point moorings that export oil from Kazakhstan through the Black Sea terminal need urgent repairs, Reuters news agency said. CPC is currently looking for contractors to begin the repair work and said the one-month suspension of oil shipments is an estimate and could change.
Single Point Mooring (SPM) 1 and 2 are suspended from service, CPC said Monday. This comes after divers found cracks in the underwater hose attachments of the floats during regular maintenance of the facilities. the CPC added that the equipment’s failure does not pose a threat to the Black Sea’s flora and fauna.