CPC Escapes US Oil Ban

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The US' immediate ban on imports of crude oil and natural gas from Russia would not include non-Russian barrels shipped via the 1,500 km Caspian Pipeline Consortium (CPC) pipeline that runs from the Chevron-operated Tengiz oil field in Kazakhstan to a terminal near the Russian Black Sea port of Novorossiysk.

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Opec has increasingly cast itself as the oil market's central bank, claiming its intervention helps stabilize supply and prices, but markets are not convinced.
Fri, Sep 22, 2023