Russian court orders halt to Caspian oil pipeline but exports still flow [Reuters]
Chevron Corporation (CVX)
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Source: Reuters
been told by a Russian court to suspend activity for 30 days, although exports were still flowing. FILE PHOTO: An exterior view shows a new pumping station of the Caspian Pipeline Consortium (CPC) near the city of Atyrau, Kazakhstan October 12, 2017. REUTERS/Mariya Gordeyeva Tengizchevroil, the operator of Kazakhstan's largest oilfield Tengiz, said oil supplies via the CPC pipeline have not been interrupted. Tengizchevroil, in which Chevron holds a 50% stake, said that it has sought clarification from the CPC on details and next steps after the ruling. Three industry sources also said oil supplies from the fields in Kazakhstan to the CPC pipeline were uninterrupted as of Wednesday morning. CPC, which handles about 1% of global oil, said the ruling to suspend operations related to paperwork on oil spills and said the consortium, which includes Chevron and Exxon, had to abide by Tuesday's court ruling. Any major disruption to the CPC would put further strain on the global oi
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