Crude exports look set to rise from Russia’s Black Sea port of Novorossiysk after an upgrade.
The joint-venture Caspian Pipeline Consortium (CPC) expects to complete work in July 2025 to allow three tankers of up to VLCC size to be loaded simultaneously at its single-point moorings (SPMs), the company said.
The idea is to reduce bottlenecks for shipments of the CPC blend, which is made up of 90% Kazakhstani crude and 10% Russian.
