Oil loading resumes at second CPC mooring point at Novorossiisk: CPC

Oil loading at a second of three single-point mooring systems on the Caspian Pipeline Consortium network at Novorossiisk has resumed, CPC said in a statement April 24.

Loading at CPC, which is Kazakhstan's key crude export route, was suspended March 23, following storm damage.

CPC said that loading of the tanker Delta Commander at SPM 3 is currently in progress, after a brief improvement in weather conditions April 23 allowed for subsea work. SPM 1 continues to operate normally, and SPM 2 remains temporarily offline, CPC said in the statement.

Kazakhstan said previously that two out of three SPMs operating are sufficient for normal loading volumes.

An increase in loading will help boost supply in the Mediterranean region following other disruptions, including Libyan loadings due to protests, as well as reductions in Russian crude purchases due to the Ukraine invasion.

Kazakhstan is the second largest non-OPEC producer in the OPEC+ crude production group. The country's crude production fell 3% on the month to 1.55 million b/d in March, the ministry said previously.

Kazakhstan estimated that the CPC incident would lead to a 320,000-b/d drop in output in April.