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Crude oil manufacturing in Kazakhstan, which is a part of the OPEC+ output deal, plunged by 13% in August from July attributable to common upkeep at one big area and an unplanned halt at one other large oilfield, Reuters reported on Monday, quoting two sources with data of each day manufacturing information.
Excluding condensate, oil manufacturing in Kazakhstan dropped to 1.196 million barrels per day (bpd) final month, down from 1.378 million bpd, in keeping with the information cited by Reuters sources.
In early August, the offshore oilfield Kashagan in Kazakhstan, which pumps greater than 300,000 bpd, was shut down after a gasoline leak was detected on the location.
A couple of days later, the sector operator stated that it could partially restart manufacturing, and upon completion of repairs and integrity verification, full manufacturing can be restored on the facility.
Kazakhstan has additionally seen diminished volumes of oil exports over the previous weeks.
Oil exports from Kazakhstan by way of the Black Sea terminal of the Caspian Pipeline Consortium (CPC) had been anticipated to face at least a month of diminished shipments and disrupted loading schedules attributable to pressing repairs wanted at two of the terminal’s three Single Level Moorings, the consortium stated on the finish of August.
CPC stated that Single Level Moorings (SPM) 1 and a couple of are quickly out of service. Earlier in August, whereas performing scheduled upkeep on SPM-1 and SPM-2, divers found cracks in subsea hose attachments to buoyancy tanks, the consortium stated. The integrity of the tools stays intact, and there’s no risk to the wildlife of the Black Sea, CPC added.
The 1,500-km CPC pipeline from the large Kazakh oilfields within the Caspian Sea to Novorossiysk, on the Russian Black Coastline, strikes over two-thirds of all Kazakhstan export oil together with crude from Russian fields, together with these within the Caspian area.
By Charles Kennedy for Oilprice.com
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