Kazakhstan's oil and gas condensate production fell to about 1 million barrels per day (133,200 metric tons) on July 26, roughly half the June average of 2.16 million barrels per day, an industry source told Reuters.
The plunge was caused by the shutdown of the Caspian Pipeline Consortium (CPC), which handles more than 80% of Kazakhstan's oil exports. The CPC suspended loading and stopped accepting oil after Ukrainian drones attacked tankers at its marine terminal near Novorossiysk.
Kazakhstan's Energy Ministry confirmed it had adjusted daily production levels to avoid overflowing storage tanks due to the export restrictions, but did not disclose the scale of the reduction.
The situation began to improve on July 27. The Energy Ministry said the CPC had resumed accepting oil from shippers and loading at the Novorossiysk terminal. According to the ministry, two offshore berthing facilities began loading the tankers SEAMAJESTY and MILOS; both vessels are taking oil from Tengizchevroil, a consortium led by Chevron. The ministry said further operations would be conducted taking into account the security assessment and safety requirements.
The production drop affected Kazakhstan's three largest fields — Tengiz, Kashagan and Karachaganak. According to the Reuters source, output at these fields fell by 70–90% on July 26 compared with June levels.
Shareholders in the CPC include Russia (31%), Kazakhstan (20.75%), Chevron (15%) and private companies.