Caspian Pipeline Consortium cuts oil exports in June by 7% from May, sources say

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- The Caspian Pipeline Consortium, which accounts for 80% of Kazakhstan's oil exports, cut supplies by 7% last month from May amid maintenance at the country's largest oilfield, Tengiz, and lower Russian flows, two industry sources said on Monday.


  • The sources said CPC reduced oil supplies in June to 6.442 million metric tons, or 1.699 million barrels per day, from 7.187 million tons (1.83 million bpd) in May.

  • They said the decline was caused by an accident at the Tengiz oilfield in late May and lower volumes of Russian crude.

  • Kazakh oil shipments fell to 5.91 million tons in June from 6.27 million tons in May, down 3% on a daily basis, while Russian crude shipments dropped to 0.53 million tons from 0.92 million tons, down 40%, one of the sources said.

  • CPC does not comment on its commercial activities.

  • Total oil shipments through the CPC marine terminal fell to 33.362 million tons in the first half of 2026 from 36.025 million tons in the same period a year earlier.

  • Kazakhstan halted oil exports to Germany from May 1, redirecting the freed-up volumes into the CPC system.

  • CPC expects oil shipments to increase to 72 million tons in 2026 from 70.5 million tons in 2025.

  • Most of the crude is from the giant Caspian oilfields of Tengiz, Kashagan and Karachaganak and is loaded onto tankers at the consortium's terminal in Yuzhnaya Ozereyevka, near Novorossiysk.

  • CPC shareholders include Russia (31%), Kazakhstan (20.75%), Chevron CVX.N (15%), and a number of private companies.