Kazakh oil companies have temporarily reduced production volumes following the suspension of tanker loading at the Black Sea terminal, through which a significant portion of the country's oil exports passes. The reason for this was drone attacks, which, between July 17 and 20, targeted four oil tankers preparing to load at the Caspian Pipeline Consortium terminal near the Russian port of Novorossiysk, leading to a halt in operations.

The terminal receives Kazakh oil transported via the consortium’s pipeline system, which stretches over 1,500 kilometers. Due to restrictions on oil intake into the pipeline and to prevent storage tanks from overflowing, Kazakh oil companies have implemented controlled reductions in daily production volumes.

Storage tanks at pumping stations along the pipeline network and at the export terminal can hold up to 8 million barrels of oil. However, filling these tanks to capacity could increase risks, as oil storage facilities in Russia have previously been targeted by drone attacks.

The Caspian Pipeline Consortium reported the suspension of tanker loading at two offshore export mooring facilities after a series of drone attacks. Authorities in Kyiv have not claimed responsibility for the recent drone strikes in the Black Sea.

Under normal circumstances, this pipeline supplies more than 1% of global oil deliveries. Kazakhstan’s Ministry of Energy has not provided details on production cuts at the country’s three key oil fields—Tengiz, Kashagan, and Karachaganak—which together account for over 70% of Kazakhstan’s oil exports, with nearly all volumes shipped via the Caspian pipeline.

According to reports, production at the Tengiz field dropped to about 406,000 barrels per day, compared to an average of 925,000 barrels per day before the July suspension. Overall oil and gas condensate production in Kazakhstan fell to 1.63 million barrels per day, down from the July average of 2.07 million barrels per day.

Operators at the Kashagan and Karachaganak fields have also decided to reduce output to maintain stable production processes. The Ministry of Energy stated that the Caspian pipeline facilities at the onshore terminal near the port of Novorossiysk remain undamaged despite the drone attacks, and all consortium production and technical facilities are fully operational and ready to resume crude oil transshipment as soon as conditions stabilize.

Currently, consultations are underway to develop solutions aimed at ensuring safe navigation and the prompt restoration of stable Kazakh oil exports to global markets.