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Released December 04, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)
Crude oil prices started the week with a heavy risk premium after U.S. military pressure increased on Venezuela and a drone hit a Black Sea port in Russia. Authorities reported damage to a berth at the Novorossiysk Refined Products & Chemicals Storage Terminal, which handles deliveries from the Caspian Pipeline Consortium (CPC).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more about the terminal--including capacities, investment values and necessary equipment--in a detailed report.
IIR Energy was able to confirm a berth was damaged, though it was unclear to what degree exports were impacted.
In a statement on the drone attack, published Saturday, CPC said its work was emblematic of geopolitical unity, given the invested interests from Russia and Western energy companies. This was the third such attack since the conflict in Ukraine erupted in 2022.
"We believe that the attack on CPC is an attack on the interests of CPC Member States," the consortium stated. "This is the third act of aggression against a purely civil asset under protection of the international law."
Members include subsidiaries of U.S.-based supermajor Chevron Corporation (Houston, Texas), Italian energy company Eni SpA (Rome) and Russian oil pipeline company Transneft (Moscow). The government of Kazakhstan, meanwhile, pointed the finger at Ukraine, blaming the Western-leaning country for drone attacks on the terminal on the Black Sea.
By the Numbers
"It should be noted that no sanctions or restrictive measures have ever been imposed on CPC, which also testifies to the recognition of the significant CPC role in ensuring interests of the company's Western shareholders," Kazakhstan said in a statement.
Kazakhstan, a former Soviet Republic, enjoys warm ties with Western powers as a member of the North Atlantic Cooperation Council, part of NATO.
Subscribers can learn more about Kashagan in a detailed plant profile.
There's also storage capacity at the export terminal for nearly 900,000 barrels of chemicals and refined petroleum products, according to IIR's database.
In a report from the Interfax news agency, meanwhile, Kazakh Energy Minister Yerlan Akkenzhenov said the country is aiming to expand its refinery capacity over the next 15 years.
"By 2040, the launch of a new large-capacity plant with a capacity of 10 million tonnes of oil refining in a modern fuel-petrochemical configuration is planned, bringing refining capacities to 40 million tonnes" he said Tuesday.
Levels last year were about 17.9 million metric tons, or about 127 million barrels. Total investments, Akkenzhenov added, would be upward of $15 billion.
Key Takeaways
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Summary
Kazakhstan blamed Ukrainian forces for a drone attack that hobbled a key crude oil export terminal for the CPC pipeline. IIR Energy confirmed at least one berth was damaged.Black Sea Port Struck
A suspected Ukrainian drone strike on November 29 hobbled an export terminal for the CPC pipeline, one of the largest crude oil delivery networks in the world, which primarily moves Kazakhstani oil.Crude oil prices started the week with a heavy risk premium after U.S. military pressure increased on Venezuela and a drone hit a Black Sea port in Russia. Authorities reported damage to a berth at the Novorossiysk Refined Products & Chemicals Storage Terminal, which handles deliveries from the Caspian Pipeline Consortium (CPC).
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more about the terminal--including capacities, investment values and necessary equipment--in a detailed report.
IIR Energy was able to confirm a berth was damaged, though it was unclear to what degree exports were impacted.
In a statement on the drone attack, published Saturday, CPC said its work was emblematic of geopolitical unity, given the invested interests from Russia and Western energy companies. This was the third such attack since the conflict in Ukraine erupted in 2022.
"We believe that the attack on CPC is an attack on the interests of CPC Member States," the consortium stated. "This is the third act of aggression against a purely civil asset under protection of the international law."
Members include subsidiaries of U.S.-based supermajor Chevron Corporation (Houston, Texas), Italian energy company Eni SpA (Rome) and Russian oil pipeline company Transneft (Moscow). The government of Kazakhstan, meanwhile, pointed the finger at Ukraine, blaming the Western-leaning country for drone attacks on the terminal on the Black Sea.
By the Numbers
- 13 billion barrels of recoverable crude from Kashagan field
- 900,000 barrels of petroleum, chemical storge at stricken export terminal
- 1.7 million BBL/d eyed for future exports
Attack 'Deliberate'
Kazakhstan's foreign minister, in a statement to Reuters, said the attack was "deliberate." Several sources reported to the news agency that CPC was looking to finish work on a separate mooring point that's been under repair since last month to restore the full export capacity."It should be noted that no sanctions or restrictive measures have ever been imposed on CPC, which also testifies to the recognition of the significant CPC role in ensuring interests of the company's Western shareholders," Kazakhstan said in a statement.
Kazakhstan, a former Soviet Republic, enjoys warm ties with Western powers as a member of the North Atlantic Cooperation Council, part of NATO.
More Coming from Kazakhstan
The consortium aims eventually to increase exports from 1.45 million barrels per day (BBL/d) in November to 1.7 million BBL/d. Most of the exports are drawn from the Tengiz, Kashagan and Karachaganak oil fields in Kazakhstan. Tengiz and Kashagan in the Kazakh waters of the Caspian Sea are among the largest in the world, with Kashagan alone holding 13 billion barrels of recoverable crude oil reserves.Subscribers can learn more about Kashagan in a detailed plant profile.
There's also storage capacity at the export terminal for nearly 900,000 barrels of chemicals and refined petroleum products, according to IIR's database.
In a report from the Interfax news agency, meanwhile, Kazakh Energy Minister Yerlan Akkenzhenov said the country is aiming to expand its refinery capacity over the next 15 years.
"By 2040, the launch of a new large-capacity plant with a capacity of 10 million tonnes of oil refining in a modern fuel-petrochemical configuration is planned, bringing refining capacities to 40 million tonnes" he said Tuesday.
Levels last year were about 17.9 million metric tons, or about 127 million barrels. Total investments, Akkenzhenov added, would be upward of $15 billion.
Key Takeaways
- CPC Oil exports may have been curtailed by a drone strike
- At least one berth at Novorossiysk terminal in Russia was damaged
- The government said this is the third such strike since the 2022 invasion of Ukraine
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
