Kazakhstan discusses steps to tackle CPC oil export restrictions
FILE PHOTO: An exterior view shows a new pumping station of the Caspian Pipeline Consortium (CPC) near the city of Atyrau, Kazakhstan October 12, 2017. REUTERS/Mariya Gordeyeva
Kazakhstan said on Wednesday it was discussing measures to tackle the impact of restrictions on oil exports via the Caspian Pipeline Consortium (CPC), which ships Kazakh crude via Russia to the Black Sea.
The CPC, which handles about 1 per cent of global oil, said on Wednesday that a Russian court had ordered it to suspend operations for 30 days, citing issues related to oil spills.
Kazakhstan, which depends on revenues from fossil fuels, relies on the CPC for the most of its oil exports.
Source: Reuters
