Kazakhstan Seeks Talks With Ukraine as Drones Hit Oil Pipe
- Crucial CPC export line was affected by drone strike in Russia
- Major Chevron oil field Tengiz relies on CPC for exports
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Kazakhstan is seeking discussions with Ukraine after an attack by its drones on Russian territory affected flows through its important crude export conduit.
An oil pumping station on the Caspian Pipeline Consortium link, which ships about 80% of Kazakh oil exports, was halted after a drone attack Monday, possibly reducing flows by about 30% during about two months of repairs. The pipeline carries oil from Kazakhstan’s three largest fields, including the Tengiz project led by US oil major Chevron Corp., which just completed a $48.5 billion expansion project designed to boost production by about 260,000 barrels a day.