Kazakhstan has reduced daily oil output by 20% after Ukrainian drone attacks on the Caspian Pipeline Consortium (CPC) terminal near Novorossiysk forced a halt to loading operations, according to Reuters. The country's energy ministry described the reduction as a temporary technical adjustment to prevent storage overflow.
Kazakhstan's oil production fell to 215,600 tonnes (1.63 million barrels) on July 22, down from a daily average of 274,000 tonnes (2.07 million barrels) earlier this month, according to Reuters, citing industry sources. The drop follows five drone attacks on the CPC terminal at Yuzhnaya Ozerevka near Novorossiysk in July, which led to the suspension of crude oil loading on July 20. The country's energy ministry said the output adjustment was a technical measure to avoid overloading storage tanks, and that the reduction is temporary. The attacks are part of a broader Ukrainian campaign targeting Russian energy infrastructure, though the full extent of the damage to the terminal remains unclear.
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