Black Sea Bottleneck Stalls Tengiz Oil Comeback
Market Intelligence Analysis
AI-PoweredThe Tengiz oilfield in Kazakhstan is experiencing production delays due to storms in the Black Sea and potential drone attacks, impacting the field's recovery after a fire last month.
Market impact analysis based on bearish sentiment with 80% confidence.
Article Context
Storms in the Black Sea and alerts of potential drone attacks at a key loading terminal are slowing the ramp up of crude oil production at Kazakhstan’s giant Tengiz oilfield, industry sources told Reuters on Wednesday. The huge field, capable of producing 950,000 barrels per day, was forced to shut down last month following a fire at the site that damaged critical power supply. Since then, the field, operated by a Chevron-led consortium, has resumed operations and has been gradually raising production. However, the pace…
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