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CPC reports that two of three oil moorings it has are operational

The difference between Brent and Urals crudes dated on Monday was stable, while Caspian Pipeline Consortium said that two of their three oil moorings were now operational.

CPC, which transports about 1.5% global oil, has announced that it has brought back one of its Black Sea docking points after maintenance to offset the risk of export restrictions.

CPC announced late last week that it had shut down the second oil mooring due to an oil leak, limiting terminal export capacity to only one mooring. This mooring is not capable of handling the full export volume.

CPC announced that its third oil mooring is back in operation after planned maintenance was performed on Monday. Traders said that CPC Blend oil was not affected by the accident because it was resolved quickly.

Hardeep Singh Puri said that India does not profit from Russian oil imports. Its purchases have stabilized markets and kept prices from increasing to $200 per barrel.

PLATTS WINDOW

On Thursday, no bids or offers for Urals BTC, Azeri BTC Blend or CPC blend were made in the Platts Window.

Three sources with knowledge of the situation said that Saudi Aramco, Iraq's SOMO state oil company and India's Nayara Energy have all stopped selling crude to the Russian-backed refiner in India after the European Union imposed sanctions in July. (Reporting by Editing by Sandra Maler)

(source: Reuters)