BAKU, Azerbaijan, June 13. Transportation of Kazakhstan's "CPC Blend" oil (which is mainly Tengiz, Kashagan, and Karachaganak oil that goes through the Caspian Pipeline Consortium, or CPC pipeline) may become more expensive from July 1, Trend reports.
According to sources in the government of Kazakhstan, the upcoming increase in the cost of transit is because the Turkish authorities are raising the cost of transit of tankers and other vessels through the Black Sea, the Bosporus Strait, and the World Ocean by 15 percent from July 1.
"Turkey will charge $5.07 for the transportation of one ton of oil through the Bosphorus and Dardanella Straits starting in July. Previously, the price was $4.42 per ton," the source explains.
Meanwhile, this route from Novorossiysk (Black Sea) is used by tankers with Kazakh oil, which are filled at the CPC marine terminal in Novorossiysk.
The fee for passage through the Bosporus and Dardanelles is calculated based on the gold franc, following the Montreux Convention, signed in 1936, that restored Türkiye's sovereignty over the Straits.
The fee for passage through the Bosporus and the Dardanelles rose by 8.5 percent to $4.42 per ton in June last year.
This tariff jumped 5 times in October 2022, after the outbreak of hostilities in Ukraine.
The CPC is Kazakhstan's main oil export route.
About 63.47 million tons of Kazakhstan's oil were shipped through the CPC marine terminal in Novorossiysk in 2023 (an increase of 4.76 million tons compared to 2022).
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