Russian Court Overturns Suspension of Oil Berth at Novorossiisk Port

A recent decision by a Russian court has overturned the suspension of an oil berth at the Black Sea port of Novorossiisk, which is controlled by Transneft, according to an industry source who spoke to Reuters.

Last week, Transneft announced the suspension of mooring number 8 at Novorossiisk for a period of 90 days following a surprise inspection by a transport regulator. However, the court’s decision has now reversed this suspension.

The Novorossiisk Commercial Sea Port (NCSP) is a key export outlet in Russia, and the closure of one mooring is not expected to have a significant impact on its overall operations. The port was reportedly fined 200,000 roubles ($2,322) for unspecified irregularities related to the suspended berth.

According to industry sources, the suspended berth is typically used to handle small-scale vessels carrying up to 10,000 tons of oil products.

In a similar development, a Russian court also ruled last week that the Caspian Pipeline Consortium’s (CPC) Black Sea export terminal facilities near Novorossiisk should not be suspended. The CPC, which is supported by Western stakeholders, utilizes these berths for exporting oil from Kazakhstan.

Overall, these recent court decisions have provided clarity and stability for the operations at the Black Sea ports, ensuring that key export activities can continue without disruption.

It is important to note that the global oil market is closely watching developments at ports like Novorossiisk, as any disruptions to operations could potentially impact supply chains and prices. The resolution of these regulatory issues is seen as a positive step towards maintaining smooth operations at these critical export facilities.

With the court’s decision to overturn the suspension of the oil berth at Novorossiisk, Transneft and other stakeholders can now focus on resuming normal operations and ensuring the efficient export of oil products through this key port in Russia.

As the situation continues to evolve, stakeholders will be closely monitoring any further developments related to regulatory oversight and operational stability at Novorossiisk and other key ports in the region.

($1 = 86.1455 roubles)

(Source: Reuters)