Tankers Take Oil From Key Kazakh Export Terminal After Attacks

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessTankers Take Oil From Key Kazakh Export Terminal After AttacksFour tankers have completed loadings at a Black Sea port that’s crucial to Kazakhstan’s crude exports in recent days, after a run of attacks disrupted shipping in the area.Author of the article:Nariman Gizitdinov and Sherry Su You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Four tankers have completed loadings at a Black Sea port that’s crucial to Kazakhstan’s crude exports in recent days, after a run of attacks disrupted shipping in the area. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTwo out of the four vessels, loaded since Friday, have left the waters of the Caspian Pipeline Consortium terminal on Russia’s coast, according to ship-tracking data compiled by Bloomberg. At least three more tankers were waiting to load nearby, but it was unclear if they had already done so, the data show.Ongoing tanker loadings from the CPC system, which ships crude from Kazakh joint ventures with oil majors such as Chevron Corp., ExxonMobil Holdings Corp. and Shell Plc, would bring some relief to a global market that’s already struggling with turmoil in the Middle East. CPC accounts for almost 2% of global volumes in normal times, and Kazakhstan is the second-largest source of European imports.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againShipments have come under threat from attacks on oil tankers in and around the CPC terminal, making some vessel owners reticent to load there. Tanker earnings have since surged, potentially incentivizing some shipowners to resume transits. Kazakhstan said over the weekend that producers were continuing to send barrels to the terminal, though they were flowing at a lower rate than normal. The marine terminal is ready and capable of loading crude at pre-attack volumes, but the pace of exports depends on availability of tankers and weather conditions, people familiar with the matter said, asking not to be identified because the information isn’t public. Nine vessels loading oil at the terminal or sailing close to it were hit last month. Nobody has claimed responsibility for the incidents. Ukraine has attacked tankers in Russia’s Black Sea waters in the past. The cost of booking a ship to load at the terminal ended last week at $338,000 a day, almost double the level a month earlier, according to data from the Baltic Exchange in London. Kazakhstan’s Energy Ministry said on Saturday it was shipping about 100,000 tons a day to the terminal from Aug. 1. That equates to about 730,000 barrels a day. Further increases in intake volumes will depend “on the timely provision of tankers for loading at the marine terminal,” the ministry said.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.