A Ukrainian naval drone strike on the Caspian Pipeline Consortium’s (CPC) Black Sea terminal near Novorossiysk on November 29, 2025, knocked out a key mooring and forced an immediate halt to oil loading operations. The attack hit Single Point Mooring 2, rendering it inoperable and sending tankers away from the facility. No injuries or oil spills were reported.
Pipeline's global significance
The CPC pipeline carries roughly 80% of Kazakhstan’s crude oil exports and accounts for over 1% of global oil supply. The loss of one of three export moorings significantly reduced throughput capacity. Loading resumed in early 2026, but with only one mooring operational as of January 2026, leaving the terminal with far less redundancy than normal.
Kazakhstan's contingency response
Kazakhstan’s energy ministry quickly activated alternative export routes, primarily redirecting volumes through the Baku-Tbilisi-Ceyhan (BTC) pipeline, which bypasses Russia entirely by running from Azerbaijan through Georgia to Turkey’s Mediterranean coast. This rerouting helped keep some oil flowing, but the disruption exposed supply chain fragility.
Recurring threat and market implications
Another drone event near the CPC terminal was reported in July 2026, underscoring that the facility remains a target. For oil markets, the attack is a reminder that geopolitical risk premiums are real—disruptions at facilities handling over 1% of global supply can tighten an already constrained market. Investors should watch Kazakh export data and BTC utilization rates as leading indicators of whether the disruption stays contained or compounds. Broader market contagion has been limited so far, but a pattern of strikes targeting the same facility suggests the CPC terminal has become a recurring pressure point.