Russian court orders one of world’s largest pipelines to suspend operations

A Russian court ordered the Caspian Pipeline Consortium (CPC), one of the world’s largest pipelines which brings oil from Kazakhstan to the Black Sea, to suspend activity for 30 days, adding to global worries over oil supplies.

CPC, which handles about 1% of global oil and includes US majors Chevron and Exxon, said the ruling to suspend its operations concerned issues related to the handling oil spills and that the consortium had to abide by the ruling.

It declined further comment on its activity and operations.

The CPC pipeline has been in the spotlight since what Russia calls a “special military operation” in Ukraine, which has restricted Russian exports and led to an oil price spike.