Kazakhstan Oil Exports via CPC Plummet Nearly 50%

Astana, Kazakhstan – Exports of Kazakh oil via the Caspian Pipeline Consortium (CPC) have significantly decreased in January 2026, falling by roughly 45% from planned levels, according to a report by Bloomberg.

Traders report that CPC Blend exports are currently around 800,000 to 900,000 barrels per day. At least 21 out of 45 scheduled shipments have been cancelled, attributed to severe weather conditions, ongoing repairs, and damage to infrastructure following drone attacks.

The reduced supply has led to a price increase, with Kazakh oil trading at a premium of approximately $1.20 per barrel to Dated Brent for the first time in a year. This indicates a tightening of the market due to the supply disruption.

The Caspian Pipeline Consortium is a major entity connecting oil producers from Russia, the United States, Kazakhstan, and several Western European countries. It is the primary export route for Kazakh crude, transporting a minimum of 60 million tons annually from key fields like Tengiz, Kashagan, and Karachaganak.

Challenges are primarily focused on the operation of the CPC’s marine terminal. Stable operations require at least two Single Point Moorings (SPMs) to be functional, but currently, only one is operating, and even that with interruptions. Stormy weather has repeatedly halted loading operations, with a suspension occurring on December 29th due to adverse conditions.

The CPC has temporarily limited oil intake due to full storage capacity. Prolonged disruptions could force Kazakhstan to reduce its oil production. The Ministry of Energy of Kazakhstan has been contacted for official comment.

The marine terminal experienced an attack on November 29th, resulting in substantial damage to an SPM. Kazakhstan’s Minister of Energy, Yerlan Akkenzhenov, recently stated that the country is currently assessing the financial impact of the attack.

Source: Bloomberg