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Black Sea Petroleum to Shift from Russian to Turkmen Oil

3/31/2026

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Summary

Story summary

Black Sea Petroleum (BSP) in Georgia plans to replace Russian crude with Turkmen oil to adapt to EU sanctions and regain access to markets.
CEO David Potskhveria cites delays transporting Turkmen crude via Azerbaijan's railway as a hurdle BSP must overcome.
When resolved, BSP plans to diversify with Kazakh oil, aligning with EU efforts to reduce reliance on Russian energy, including a phased ban on Russian gas imports by 2027.

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Story summary

Black Sea Petroleum (BSP) in Georgia plans to replace Russian crude with Turkmen oil to adapt to EU sanctions and regain access to markets.
CEO David Potskhveria cites delays transporting Turkmen crude via Azerbaijan's railway as a hurdle BSP must overcome.
When resolved, BSP plans to diversify with Kazakh oil, aligning with EU efforts to reduce reliance on Russian energy, including a phased ban on Russian gas imports by 2027.