CPC oil producers eye boost to flows via Russia from May
Tuesday, 21 April 2020 Kazakh oil producers, which export crude via the Caspian pipeline consortium (CPC), are seeking to divert flows to Russia's Transneft from May in an attempt to minimize losses as CPC Blend margins and demand fall, five market sources said.
A special repatriation flight took off from Kazakhstan's Karaganda Airport to India on May 26. 143 Indian nationals will return home from this flight under Vande Bharat Mission. It was the first flight from Kazakhstan to India during the lockdown period. Ambassador of India to Kazakhstan, Prabhat Kumar said, "Today, we are starting the evacuation from Kazakhstan. Today is the first flight from Karaganda. We are sending flights from May 26 till June 1, daily one flight. It will be taking around 1000 people to India. We have registered around 3,400 people for evacuation and rest of the people will be covered in next phase." The stranded Indian nationals across globe are being brought back to their home country under Centre's Vande Bharat Mission.
OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices..