Kazakhstan: Black Sea logistics issues to not alter oil export strategy

Kazakhstan does not plan to change its fundamental approach to oil exports despite logistical challenges in the Black Sea and reported attacks affecting infrastructure operated by the Caspian Pipeline Consortium (CPC), the country’s Energy Ministry said.

“The situation regarding the availability of the tanker fleet, insurance and freight rates is dynamic and depends on a whole range of international factors. However, at present, the existing logistical issues are not regarded as grounds for changing Kazakhstan’s fundamental approach to oil exports,” the ministry told Russia’s TASS news agency.

The ministry said Kazakhstan was continuing to closely monitor the condition of CPC infrastructure and the safety of shipping in the Black Sea.