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Article: Radical routes steer Tengiz toward Asia.
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- August 5, 2002
CopyrightCOPYRIGHT 2002 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The marketing of Kazakstan's Tengiz crude oil, which currently constitutes the Caspian Pipeline Consortium (CPC) blend, has not been smooth sailing. After a bumpy start last year when ChevronTexaco-led operator Tengizchevroil (TCO) scrambled to fill the newly opened pipeline with the 48[degrees] API, 0.5% sulfur crude, it is now struggling to place any more of the grade in a generously supplied Mediterranean market. Competition from rising supplies of Algeria's Saharan Blend has kept prices under pressure, sending both grades scouting for new outlets beyond the region--and encouraging some radical suggestions. To some extent, CPC Blend's debut was spoiled by a 100,000 ...