Oil prices hit four year high: Latest news on the Middle East conflict on 9 March
Global oil prices reached a four year high on Monday (9 March), surpassing $...
Kazakhstan is assessing the scale of damage and potential losses following a recent attack on infrastructure operated by the Caspian Pipeline Consortium, a key export route for the country’s oil.
Energy Minister Yerlan Akkhenzhenov has reiterated that the incident underscored the unacceptability of attacks on civilian and critical infrastructure, a position earlier articulated by his ministry in a statement.
According to the minister, the attack caused a significant breach measuring approximately two and a half by three metres as a result of a targeted explosion.
The damage was sustained by an offshore loading facility, known as an offshore single point mooring.
Divers are currently working to restore the buoyancy of the installation, after which specialists will need to access the interior to assess the condition of the technological equipment.
If repairs prove technically feasible, the damaged unit, referred to as SPM-2, will be brought back into operation, Akkhenzhenov said.
Restoration work is under way, although progress is being slowed by adverse weather conditions in the region.
Experts say winter weather and sea conditions are likely to be decisive in determining how quickly repairs can be completed.
If the sea remains calm, companies involved may be able to keep to planned timelines, but seasonal conditions add an element of uncertainty to offshore operations.
The latest attack on CPC infrastructure took place on 29 November at 06:06 Astana time, when unmanned boats disabled the SPM-2 facility in the waters of the port of Novorossiysk.
In response, the Kazakh government placed the situation under special control, and on 30 November the country’s foreign ministry lodged an official protest with Ukraine.
As the disruption affected part of Kazakhstan’s export capacity, authorities and companies moved to adjust oil flows.
On 10 December it was announced that some volumes of crude from the Kashagan field had begun to be redirected to China.
At the same time, KazTransOil announced plans to increase regional supplies and resume transit operations to neighbouring states.
According to the company’s press service, in December 2025 oil transportation volumes will rise in two directions, to Kyrgyzstan and Uzbekistan.
Supplies to Kyrgyzstan were resumed in November 2025, marking the first shipments along this route since 2017.
By the end of the year, deliveries to Kyrgyzstan are expected to reach up to 30 000 tonnes.
In parallel, KazTransOil plans to restart oil transit to Uzbekistan in December, with volumes of up to 35 000 tonnes.
Overall, combined deliveries to Kyrgyzstan and Uzbekistan are set to total 65 000 tonnes by the end of 2025, with up to 55 000 tonnes scheduled for December alone.
Oil is transported through KazTransOil’s main pipeline system to the Shagyr oil loading point, where it is transferred into railway tank cars for onward shipment.
The company says the increase in volumes has been made possible by effective and mutually beneficial cooperation with international partners, allowing Kazakhstan to maintain export flexibility amid ongoing challenges to its traditional export routes.
Mojtaba Khamenei, son of the late Ayatollah Ali Khamenei, is a hardline cleric with strong backing from the Islamic Revolutionary Guard Corps. His rise signals continuity in Tehran's anti-Western policies.
Global oil prices surpassed $119 a barrel on Monday (9 March, 2026), an almost four year high, as the Middle East conflict rumbled on.
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Global oil prices reached a four year high on Monday (9 March), surpassing $119 a barrel, as conflict in the Middle East rumbled on. Meanwhile, the Turkish Military said NATO air defence systems destroyed a missile fired from Iran towards the country.
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