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24 Mar, 16:00

Oil pumping to CPC impossible after strike against Kavkazskaya Pump Station

According to the consortium, shippers delivered at least 130,000 metric tons of oil monthly to the CPC system for further shipment from the oil terminal near Novorossiysk

MOSCOW, March 24. /TASS/. Ukraine’s drone attack against the Kavkazskaya Pump Station resulted in impossibility of transporting oil from it to the Caspian Pipeline Consortium (CPC) system in the foreseeable future, the CPC press service told reporters.

"Following stoppage of the Kropotkin Pump Station due to the Ukrainian drone strike, the volume of expected annual transportation from this station was lowered, and it will not be possible in the foreseeable future after the destruction of the Kavkazskaya Pump Station," the company said.

According to the consortium, shippers delivered at least 130,000 metric tons of oil monthly to the CPC system for further shipment from the oil terminal near Novorossiysk. In 2024, about 1.51 mln metric tons of oil were received.

"Therefore, actions of Ukrainian authorities adversely affect financial results of CPC (revenues and dividends) and all its shareholders as a consequence, including the Republic of Kazakhstan and US companies," CPC added.