Chevron chief expects market tensions to subside following end of hostilities in Ukraine

Military actions in Ukraine had an impact on energy markets, said Bloomberg Chevron Chairman Mike Wirth. In his opinion, the tension in the markets will decrease after the end of the Russian military operation in Ukraine.

“When he (the conflict in Ukraine.— “b”) will eventually be resolved – and eventually all conflicts are resolved – I think that the uncertainty and risks of supply from one of the world’s largest energy suppliers will decrease, – said Mr Wirt.

In December he saidthat Chevron does not plan to stop pumping oil through the Caspian Pipeline Consortium (CPC). The CPC runs from Kazakhstan through Russia and is the main export route for oil from Kazakhstan. In August 2022, CPC stopped the operation of two out of three remote mooring units due to damage discovered during the inspection, oil loading was reduced. November 12 CPC announced the completion of repairs at the first berth, 29th of November – on the second.

On the development of the situation – in the publication “Kommersant” “History with a Docking End”.

Laura Keffer