CPC relaunches operations at Kropotkinskaya OPS after February drone attack

The Caspian Pipeline Consortium (CPC) has relaunched operations at the Kropotkinskaya oil pumping station, the CPC said, as per Interfax.

"On May 23, 2025, the Kropotkinskaya oil pumping station, which was previously damaged by a drone attack, was relaunched in technological pumping mode after restoration work. The oil pumping station is currently operating in normal oil-pumping mode. Oil is not being received from the Kavkazskaya station of a third-party owner via the supply oil pipeline," the report says.

As noted, transformers, a gas turbine unit along with generators were jointly repaired, a closed switchgear and cable racks were restored, and control cabinets were replaced and repaired during the construction and installation works.

"Primarily Russian equipment and materials were used when restoring the operability of the station's sub-facilities," the CPC said.

As reported, the Kropotkinskaya OPS was attacked on February 17 by several drones filled with explosives and metal striking elements, resulting in equipment being damaged, particularly equipment manufactured by Siemens.

Transneft reported that the volume of oil pumped from Kazakhstan could decrease by approximately 30% owing to the damage, while Kazakhstan's Energy Ministry has repeatedly said that there are no restrictions on receiving Kazakh oil in the CPC system.

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Dangote Petroleum Refinery and Petrochemicals said it will partner with Vinmar Group, an international petrochemicals distribution company, to bring Dangote polypropylene to global markets, as per Reuters.

Dangote’s $2bn (R36.05bn) petrochemical plant in Lagos with 830 metric ton (mt) capacity, began producing polypropylene in March, in 25kg bags for the local market.

Nigeria currently imports 90% of its annual polypropylene requirements amounting to 250,000mt per year. The Dangote facility seeks to not only meet local demand but become a net exporter.

Fully operational, the facility is set to become Africa’s largest polypropylene production site, producing from two polypropylene units with capacities of 500,000mt/year and 330,000mt/year.

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The board of directors of Moldova's National Agency for Energy Regulation (ANRE) has decided to appoint the state-owned company Energocom as the gas supplier to end consumers with public service obligations for a period of three years, the ANRE said, as per Interfax.

Previously, the functions of gas supplier to end consumers as a public service were carried out by JSC Moldovagaz, in which Gazprom controls over 63% of the shares.

The decision was made on Friday at an open meeting of the ANRE's board of directors in accordance with Moldova's law on natural gas, it said.

"The decision was made in the context of the risk that JSC Moldovagaz may no longer be able to fulfill its public service obligations after July 31, 2025, due to non-compliance with legal requirements regarding the separation of natural gas supply and transportation activities," the ANRE said.

"The ANRE appointed a new public service provider to protect natural gas consumers," it said.

To ensure the uninterrupted supply of natural gas to approximately 830,000 household consumers and small businesses, the ANRE previously organized a competitive procedure for selecting a new supplier, it said. "Only two companies expressed interest, and one of them was disqualified due to non-compliance with the selection criteria. The procedure was canceled, and the ANRE directly appointed a supplier in accordance with the legal framework," it said.

The appointment of Energocom as the supplier is explained by the fact that the company operates in the natural gas market in Moldova, has one of the highest turnovers in the sector (over 7 billion lei in 2024), is functionally and legally separated from any other activity not related to the trade and supply of natural gas and has the necessary sources to supply the required amount of natural gas, it said.

"Energocom will supply natural gas to end consumers under regulated conditions, with established, transparent, and non-discriminatory quality parameters. The company will also provide last-resort supply services for consumers left without a supplier for objective reasons," it said.

Earlier this week, the ANRE said that after July 31 this year, Energocom may become the main gas supplier to Moldovan consumers instead of JSC Moldovagaz, which may lose its license to supply gas to end consumers after that date.

The corresponding decision was made by the ANRE as part of a previously announced selection process for natural gas suppliers, following a recent decision by the regulator to accelerate the separation of the gas transmission system from Moldovagaz. The new deadline of July 31, 2025, is significantly earlier than the originally planned date of September 30, 2026.

Since 2019, Energocom has been responsible for ensuring the security of the natural gas supply in Moldova during emergencies under government decrees. For this reason, Energocom's main activity has been focused on natural gas trading.

Right-bank Moldova has been purchasing gas on the European market since December 2022.

According to Moldovagaz, natural gas consumption in Moldova amounted to 790 million cubic meters in 2024, compared to 657.2 million cubic meters in 2023. During the heating season, monthly gas consumption ranges from 130 to 140 million cubic meters.

The Moldovan Energy Ministry said the day before that Energocom has begun signing long-term gas supply contracts for right-bank Moldova for the 2025-2026 gas year. Previously, the state company reported that it had master natural gas supply agreements (EFET) signed with Trafigura Trading (Europe) Sarl, Trafigura Nat Gas Limited, SNGN Romgaz SA, PGNiG Supply & Trading GmbH, OMV Petrom SA, Engie SA and other companies.

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Russian companies will not be obliged to return assets to foreign investors providing a series of conditions are met, and the relevant ministries will also have the right to prohibit this, according to a draft law prepared by the State Duma Property Committee for its second reading, said Interfax.

Under the amendments, Russian companies can unilaterally decline to return assets to foreign investors, and this can also be prohibited by relevant ministries. These rules will apply providing five conditions are met simultaneously: the foreign investor is affiliated with a non-friendly country; the deal took place between February 24, 2022 and March 1, 2025; the price was "significantly lower than market value" and the seller or affiliated person obtained the rights to buy them back within three years or more on pre-agreed terms; more than two years have passed since the option contract was signed; and the Russian company carries out its obligations before employees and creditors.

The draft does not specify what is meant by prices below the market. As reported, foreign investors from unfriendly jurisdictions were required to offer a discount of "50% or above" in order to obtain the right to withdraw from Russian assets.

A foreign investor will be entitled to compensation if refused the right to buy back a Russian business which they previously owned. However, the current owner of the business will be able to lower the compensation amount or refuse to pay it if the foreign investor, in selling their stake in the business, failed to comply with corporate rights, caused obstructions to the management of the company or acted in other ways leading the company to halt its activity or go bankrupt.

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US ethylene vinyl acetate (EVA) exports have slowed notably as global oversupply weighs on prices and demand, as per Chemweek.

Major outlets for EVA include footwear, photovoltaic modules, packaging, adhesives and coatings.

The global EVA market has been oversupplied. China-based producers are operating at high rates to support the domestic photovoltaic industry despite tight margins, according to sources. This has led to price declines in the US export market as well as in China, the largest market for EVA and the main destination for US-origin product.

Platts on May 21 assessed US spot export medium EVA grade with a VAM content of 7%-20% at $1,175 per metric ton FAS Houston, down $70 per metric ton from March 14. With that pricing, medium EVA grade stood at a premium of about 7 cents/lb ($150 per metric ton) to low-density polyethylene (LDPE). Market sources said producers usually aim to maintain a premium of 5-10 cents/lb.

Producers typically operate swing plants capable of producing both EVA and LDPE, adjusting utilization based on market conditions. Demand has recently been heard to be low for both materials. Many US-based producers are consequently prioritizing the larger LDPE market, producing EVA primarily for domestic contracted volumes.

Sources said supply from cost-competitive producers in China and the Middle East have been sufficient to meet demand in Asia, the largest consumer of the copolymer. Sellers have reported reduced interest in spot deals from the US.

”We used to worry more about US material coming our way, but that seems to have decreased significantly,” a producer based in Latin America said.

US EVA exports fell 14% year over year, to 45,690 metric tons in the first quarter of 2025, while imports fell by 17%, according to US International Trade Commission data. The data indicates that exports have increasingly shifted toward the Americas and the Europe, Middle East and Africa region, and away from China and Asia.

”Not too much activity in EVA,” a trader said mid-May. “Nothing to Asia, moderate activity to Latin America and Africa.”

In line with producers, traders and distributors are focusing their efforts on other markets. ”Asia has been so depressed since China is now producing and destroying the market, so we have not been actively requesting offers,” a second trader said.

EVA is included in a European Commission list of US import products that could be subject to countermeasures following the initiation of tariffs on EU material by the US earlier in the quarter.

Looking ahead, new LDPE capacities expected to come online in the next few years in the Middle East and China are also anticipated to produce EVA, further exacerbating the oversupply situation.

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