Russian court order:

  • The Caspian Pipeline Consortium has been ordered to halt Black Sea oil loadings for 30 days
  • Due to violations of a spill-prevention plan.

Info via Bloomberg

CPC's oil terminal is located on Russia's Black Sea coast. Its a key export facility for Kazakh crude

  • has three moorings, each of which can load up to around 953,000 barrels a day, usually two at a time are operational.

This will further limit global oil supplies. In June loadings from two of three CPC moorings were halted as Russian authorities removed World War II mines in the area. Operations returned only on July 1.

oil Wednesday, 6 July 2022