Med crude-Urals diffs stable, Kazakhstan looks to increase exports via BTC pipeline
MOSCOW, Nov 25 (Reuters) -Urals crude differentials to dated Brent were unchanged on Monday, while Kazakhstan's energy minister said oil loadings via the Baku-Tbilisi-Ceyhan (BTC) pipeline could rise as the country's output grows.
Kazakhstan's exports via the Baku-Tbilisi-Ceyhan (BTC) pipeline could rise to as much as 20 million metric tons a year from the current 1.5 million, Energy Minister Almasadam Satkaliyev said without providing a time frame.
The move would reduce the share of oil flows Kazakhstan sends via Russia - currently more than 80% of its exports.
The BTC pipeline is a main export route for Azerbaijan's oil, mostly supplied by state producer SOCAR.
Kazakhstan sends its crude by tanker across Caspian Sea to reach the BTC pipeline, a more expensive route than exporting via Russia which is connected to its oilfields by pipeline.
PLATTS WINDOW
No bids or offers were shown for Urals, Azeri BTC or CPC Blend in the Platts window on Monday.
NEWS
China has issued an additional crude oil import quota of at least 5.84 million metric tons (116,800 barrels per day) to independent refiners for cargoes arriving by end-2024 and in early 2025, people familiar with the situation said on Monday.
Reporting by Reuters; editing by Jason Neely
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