Caspian Pipeline Consortium Says It Starts Loading Oil Tanker at SPM-1 After Repair

(Reuters) — Caspian Pipeline Consortium (CPC) started loading an oil tanker on Saturday from single mooring point-1 (SPM-1) at its Black Sea terminal after repair work, the company said.

The terminal handles about 1% of global oil supply and is the main route for most of Kazakhstan's oil exports.

CPC suspended oil loadings from two of three SPMs at its Black Sea terminal Yuzhnaya Ozereyevka in August. Loadings have been continuing from SPM-3 since then.

CPC quoted director general Nikolai Gorban as saying it is hard to predict when SPM-2 will be repaired, due to harsh weather.

CPC has repeatedly suspended loadings from its SPMs this year due to maintenance work and inspections.

The main CPC shareholders are Russian oil pipeline monopoly Transneft with 24%, Kazakhstan's KazMunayGas (19%), Chevron Caspian Pipeline Consortium Co. (15%) LUKARCO B.V (12.5%), Mobil Caspian Pipeline Co. (7.5%) CPC Co. (7%) and Rosneft-Shell Caspian Ventures Ltd. (7.5%).

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