Overview
- Kazakhstan’s energy minister said usual production rates could be restored within a week after three transformers were damaged and partial power was brought back online.
- Tengizchevroil confirmed the power distribution system has been re-energized and that crude output has resumed at initial levels with volumes to rise gradually.
- The operator has not lifted a force majeure on CPC Blend shipments that was declared after the shutdown.
- Industry sources told Reuters that output may remain below half of normal through February 7, including estimates of about 260,000 bpd by February 5 and roughly 46% of usual levels by February 7.
- Authorities formed a commission to investigate the incident as Korolev output resumed and CPC export flows face separate disruptions from earlier drone attacks and severe weather.