Azeri BTC crude loadings suspended as force majeure declared at Ceyhan - CNBC

Quantum Commodity Intelligence - Crude oil loadings from Turkey's Baku-Tbilisi-Ceyhan terminal in the Mediterranean have been suspended following Monday's devastating earthquakes, according to CNBC Wednesday.

A force majeure notice seen by CNBC — which removes contractual liability from exporters or producers for circumstances outside of their control — was issued on Tuesday evening.

The BTC terminal loads Azeri BTC Blend crude, which is transported to the Ceyhan port via the BTC pipeline.

It notes tanker loading operations from the BTC terminal have been temporarily interrupted, as further assessments are carried out on pipeline operations after the damage occurred at the connection points of two berths.

Turkish pipeline operator Botas initially said that it had not identified any damage to either of the major crude pipelines that cross Turkish territory.

However, CNBC said trading sources estimated the force majeure could be in place for up to 10 days, while the BTC crude oil loadings schedule that is typically published on the 8th of each month will be delayed.

BTC Blend is the main crude export stream of OPEC+ member Azerbaijan, noted the CNBC report.

Attempts to restart Kirkuk crude loadings from Turkey's Ceyhan terminal have been hampered by bad weather, while reports suggesting there has been some damage to one or two of the storage tanks at the port could not be confirmed.

But CNBC noted Ceyhan port's second terminal, Botas, managed to resume loadings late on Tuesday, which exports Kirkuk blend crude from Iraq's semi-autonomous Kurdistan Regional Government for export into the Mediterranean.

"Exportation of oil through Ceyhan port has resumed tonight at 9:45 pm," the Kurdistan Regional Government Ministry of Natural Resources said, referring to local time.