KazMunayGas to transport Kazakh oil via Turkish Straits

Novorossiysk Oil Terminal to be used for oil transportation to Romania

Kazakhstan to restore oil exports via the Turkish Straits

KazMunayGas JSC (KMG) said it has agreed with Turkish Petroleum to transport 1.5 million tonnes of Kazakh oil via the Turkish Straits in the second half of 2023, according to a press release on April 10, 2023.

The oil will be delivered to the Novorossiysk Oil Terminal in Russia and then shipped to Romania via the Turkish Straits. Kazakhstan's crude will be used as feedstock for the Petromidia refinery, which is controlled by KMG International.

The deal will allow Kazakhstan to restore oil exports via the Turkish Straits to meet the growing demand in Europe for Kazakh oil. The exports had been suspended since 2018 due to a dispute between Russia and Ukraine over the use of the Kerch Strait.