Chevron: Oil loadings resume at Russia's CPC terminal after Ukrainian drone attack

On November 30, U.S. oil major Chevron stated that crude oil loadings at its Tengizchevroil (TCO) venture continued at the Russian port of Novorossiysk following a Ukrainian naval drone attack that heavily damaged key equipment, Reuters says.

The attack targeted the Caspian Pipeline Consortium (CPC), which handles more than 1% of global oil exports, as Ukraine intensified military operations in the Black Sea, hitting two oil tankers en route to Novorossiysk.

According to CPC, one of the three mooring points at its Novorossiysk terminal was damaged, halting operations temporarily. Russian media Kommersant, citing unnamed sources, reported on December 1 that oil loadings had resumed via Single Point Mooring 1 (SPM 1), while SPM 2 remained damaged. Normally, two moorings are used for loadings, with one kept as a backup.

SPM 3 has been idle for repairs since November 12, and repair work could last up to two months, according to a CPC representative cited by Interfax. Energy consultancy Energy Aspects said the drone strikes had halved CPC exports.

Kazakhstan, a CPC shareholder, protested Ukraine’s attacks on the Black Sea terminal on November 30, urging Kyiv to cease operations targeting its infrastructure. Ukraine, however, said the strikes were not directed against Kazakhstan or third parties, but aimed solely at countering what it described as “full-scale Russian aggression.”

By Khagan Isayev