Drones Hit Two Tankers in Black Sea, Driving Up War Insurance Costs

 Drones struck two oil tankers in the Black Sea on Tuesday, inclu



ding one chartered by U.S. oil major Chevron, the companies involved sa


id, as they sailed toward a terminal on the Russian coast.


Both were en route to the Yuzhnaya Ozereyevka terminal, a lo


ading point for around 80% of Kazakh oil destined for international markets as w


ell as some Russian crude, according to eight sources, who spoke on condition of anonymity.


“All crew are safe, and the vessel remains stable. It is proceeding t


o a safe port, and we are coordinating with the ship operator and relevant auth


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orities,” Chevron said of its chartered tanker.


The attacks come as Kazakhstan’s output cratered in early January with


the U.S. oil majors that domi


nate its oil sector struggling to pipe crude via Russia due to winter storms a


nd infrastructure damage caused by an earlier Ukrainian drone attack.


Kyiv has been targeting Russian energy infrastructure to pressure Moscow to


end its war in Ukraine. It was not immediately clear, however, who was behind Tuesday’s tanker strikes.


Ukraine’s government did not comment on the attacks. The Caspian Pipeline Consortium, which operates the terminal where th


e tankers were due to take on board cargoes, declined to comment.


Shareholders in CPC’s 1,500-km (930-mile) pipeline include Kazakhstan’s state-owned oil company KazMunayGas, Russ


ia’s Lukoil and units of U.S. oil giants Chevron and ExxonMobil.


Kazakh Oil and Gas Output Down 35%


The Yuzhnaya Ozereyevka terminal itself previously came under attack on November 29, when a Ukrainian drone hit one o


f CPC’s three main moorings at the facility, located near the port of Novorossiysk.


Oil and gas condensate output in Kazakhstan plunged by 35% between J


anuary 1 and January 12 compared to December’s average, a source familia


r with the data told Reuters, adding that the drop was mainly due to export constraints via the terminal.


Kazakhstan’s energy ministry said on Tuesday that CPC was continuing to exp


ort oil via one mooring.

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