Russia Warns of Sharp Caspian Pipeline Oil Export Drop After Storm

Russia Warns of Sharp Caspian Pipeline Oil Export Drop After Storm
An exterior view shows a new pumping station of the Caspian Pipeline Consortium (CPC) near the city of Atyrau, Kazakhstan on Oct. 12, 2017. Mariya Gordeyeva/Reuters
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Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium (CPC) from the Black Sea may fall by up to 1 million barrels per day (bpd), or 1 percent of global oil production, due to storm-damaged berths, a Russian official said on Tuesday.

Pavel Sorokin, a deputy energy minister, said the second berth could also turn out to be damaged after initial information about one of the three being damaged by a storm.