Kazakhstan Rebrands Oil Exports As Traders Shun Russian Crude

Kazakhstan has renamed the oil it exports through Russian ports in a bid to avoid contagion from Russia’s new pariah status. The rebranding came after the European Union pledged last week to block all Russian oil from arriving by sea by the end of this year. Oil pumped in Kazakhstan has been rechristened KEBCO – Kazakhstan Export Blend Crude Oil – Reuters reported on June 3, citing CNPC-Aktobemunaigaz, a Kazakh oil producer that ships its product through Russian ports. Kazakh oil has hitherto been exported along with Russian oil…