KMG International Group said that the supply of crude oil to its Petromidia Navodari refinery will not be affected by a suspension of the Caspian Pipeline Consortium (CPC) operation within the Russian territory.
The statement from the company said that the share of crude oil obtained through the CPC in Petromidia refinery is low, compared to other types of crude oil currently in use, adding that any measures regarding CPC’s operability will not influence the production of oil products in Romania. KMGI added that Petromidia refinery is currently operating at optimal capacity, in line with the production plans for this year.
CPC said earlier this week that the Russian court ordered it to suspend activities for a period of 30 days due to inadequate handling of oil spills.
CPC brings oil from Kazakhstan to the Black Sea region through a 1,511 kilometers long pipeline. Its biggest shareholders are the Russian Federation (24 %), Kazakh state-owned KazMunayGas (19 %) and Chevron Caspian Pipeline Consortium Company (15 %).