Caspian Pipeline Consortium to slightly reduce oil exports in 2026, Transneft says

The Caspian Pipeline Consortium, which exports oil from Kazakhstan via a Russian Black Sea terminal, will slightly reduce supplies in 2026 due to maintenance at some fields, a stakeholder in the project said on Thursday.

Vladimir Kalanda, a vice president at Russia's oil pipeline monopoly Transneft, told reporters that the CPC would export more than 70 million metric tons, or around 1.4 million barrels per day this year.

Earlier this month, the CPC lowered its oil pumping plan for this year to 74 million tons from 76 million tons.

"We are working on next year's budget. They (Kazakhstan) will have some oilfields stopping for maintenance. That's why the volumes may fluctuate. It (CPC export plans) will be a little less than this year," Kalanda said.