Kazakhstan's May CPC Blend oil <BFO-CPC> loadings were revised down by around 6 million barrels, or 770,000 tonnes, as the state cuts oil output under an OPEC+ deal, four sources familiar with the revision told Reuters on Thursday.
The Kazakh government signed a decree on Monday to cut output from May onwards, having pledged to knock 390,000 barrels per day from production in May and June under the latest OPEC+ deal.
The most recent version of the revised loading plan for May set loadings of CPC Blend at 5.5 million tonnes, a cut of nearly 14% from the previous revision.
CPC Blend exporters have to cancel five cargoes from the May loading plan and will load some other cargoes on to smaller tankers, the sources said.
Chevron-led Tengizchveroil (TCO) has to cancel four cargoes, while Italy's Eni must cancel one cargo planned for loading at the end of May, the sources said.
France's Total, China's CNPC and Shell, shareholders in the giant Kashagan oil field, will downsize several cargoes from Suezmax tankers, which hold around 135,000 tonnes, to Aframax, which hold around 80,000 tonnes, they added.
The Tengiz oil field, operated by TCO, and Kashagan, operated by the North Caspian Operating Company (NCOC), will bare the brunt of the oil cuts, with output seen down nearly a quarter.
The CPC Blend loading plan for June was yet to emerge, although traders expected it to be released on Friday.
TCO and NCOC didn't immediately answer Reuters requests for comment. CPC pipeline consortium declined to comment.
The Kashagan consortium includes Eni <ENI.MI>, ExxonMobil <XOM.N>, CNPC [CNPET.UL], Royal Dutch Shell <RDSa.L>, Total <TOTF.PA>, Inpex <1605.T> and Kazakh state energy firm KazMunayGaz <KMGZ.KZ>.
TCO is owned by Chevron, ExxonMobil, Russia's Lukoil <LKOH.MM> and KazMunayGaz.
(Reporting by Olga Yagova; additional reporting by Gleb Gorodyankin and Alexander Ershov; Editing by Kirsten Donovan)
