CPC Pipeline Operations Will Not Be Halted

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CPC Pipeline Operations Will Not Be Halted

Mon, 07/18/2022 - 10:02
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Close-up on 2000 Rubel notes on a table (© Shutterstock/Evdokiy)
Close-up on 2000 Rubel notes on a table (© Shutterstock/Evdokiy)

An earlier ruling of a district court in the Russian Federation to suspend Caspian Pipeline Consortium's operations because of alleged oil spills was overturned by a higher appellate court and leveled instead a fine of 200,000 rubles ($3,300).

"Having considered the materials, having heard the arguments of the parties, the appellate court modified the decision of the district court and handed (CPC-R) a penalty in the form of an administrative fine of 200,000 rubles," the court's ruling said, referring to CPC's Russian subdivision.

An extended stop to the pipeline, which transports 1.3 million bpd of oil from Kazakhstan's Tengiz Field in the northern Caspian across Russia to the Black Sea, would have disrupted the oil market

Kazakh President Kassym-Jomart Tokayev on Thursday told his government to diversify its oil supply routes over worries about potential blockade of the CPC in the future.

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