Volume of Kazakh KEBCO oil shipped via Russian ports falls 19% in Sept -sources, LSEG data

Rompetrol Rafinare SA

12/10/2023 11:13

MOSCOW, Oct 12 (Reuters) - The volume of Kazakh KEBCO
oil shipped via Russian ports fell by 19% in September on a
daily basis to 0.64 million metric tons from 0.82 million tons
in August, according to market sources with knowledge of the
matter, LSEG data and Reuters calculations.
    The drop in Kazakh oil loadings from Russian ports last
month was due to a decline in oil and gas condensate production
in August amid power outages, Reuters sources said. 
    Kazakh oil production, which accounts for almost 2% of
global output, fell by about 3% on a daily basis in August from
July to 7.06 million tons, or 1.66 million barrels per day.
        "Oil production in Mangistau region fell in August and
September due to power issues and affected exports," one of the
sources said.  
    Italy, Romania and Turkey remained the key buyers of KEBCO
crude in September, traders' data showed.
    Last month the Russian Black Sea port of Novorossiisks
loaded 0.44 million tons of KEBCO bound for Turkey (0.28 million
tonnes) and Romania (0.16 million tonnes), while the Baltic port
of Ust-Luga loaded 0.2 million tons of the grade for delivery to
Italy.
    Kazakhstan exports two main oil grades: CPC Blend via the
CPC pipeline and KEBCO via Russia's Transneft pipeline system. 
    As there are no differences in quality between KEBCO and
Urals, Kazakhstan renamed its oil that transits via Russia KEBCO
(Kazakhstan Export Blend Crude Oil) in June 2022 to avoid issues
with marketing.

 (Reporting by Reuters; Editing by Susan Fenton)