Europe

Russian court shuts down Kazakh oil pipeline

A court in Southern Russia has ordered the Caspian Pipeline Consortium (CPC), a major oil exporter from Kazakhstan, to shut down. Confirmed Wednesday.

The Novorossiysk court said the company will be suspended for 30 days from its CPC pipeline due to “irregularities in paperwork leading to the elimination of oil spill emergencies” revealed in a government inspection in May.

Russia’s national transport oversight agency, Ross transnadzor, has filed a court appeal demanding that CPC’s operations be suspended, although the CPC claims to have had it until November 30 to deal with fraud.

The company has vowed to appeal the ruling.

Oil exports from the CPC terminal near Novorossiysk continued on Wednesday despite the announcement, according to Reuters. reportCiting industry sources.

Approximately 90% of the oil exported through the CPC pipeline is supplied by companies operating in western Kazakhstan, including oil projects in Tengiz, Kashagan and Karachaganak.

The suspension came amid global concerns over rising oil prices and global concerns calling on Western nations to stop Russia’s oil imports, exacerbated by the Russian war in Ukraine.

The activities of the consortium have been suspended several times since the start of the Russian invasion in February.

Kazakhstan’s oil exports to Europe were allegedly restricted after a storm in March Corruption Two mooring units used by CPCs near Novorossiysk.

Independent Investigation German Handelsblatt Business Newspaper and Correctiv investigators said the Russian government may have forged the damage or deliberately delayed the correction of the problem and put pressure on the European market.

The Kazakh government reportedly Wednesday collected For an emergency meeting to decide on measures to minimize the damage caused by the suspension of CPC operations.

https://www.themoscowtimes.com/2022/07/06/russian-court-suspends-kazakh-oil-pipelines-operations-a78221 Russian court shuts down Kazakh oil pipeline

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