CPC pipeline resumes flow after tanker drone attack

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Chevron said during an earnings call that the Caspian Pipeline Consortium pipeline is flowing and ships are loading this week after the consortium briefly suspended oil loadings following a drone attack on a tanker at the port. Ships had turned away when another tanker was reported attacked while loading. The CPC pipeline carries almost 2% of global oil and is the main export route for Kazakhstan, running from the Tengiz oil field to a Russian Black Sea terminal near Novorossiysk. Chevron owns 50% of Tengizchevroil, and industry sources said loadings could resume later in the day.

CPC pipeline resumed shipments after temporary suspension following a drone attack