The Caspian Pipeline Consortium raised oil exports 1.8% in January-October
Almaty. November 1. Silkroadnews – Over January-October 2016 the Caspian Pipeline Consortium (CPC) exported 35.342 million tonnes of oil, which shows a 1.83% growth year-on-year, the CPC press-release informs.
According to the consortium data, this October oil exports amounted to 3.968 million tonnes versus 3.205 million tonnes in October 2015.
The Caspian Pipeline Consortium has been established for the construction of the pipeline and export of the Kazakhstani crude in transit through the territory of Russia. The CPC owns Tengiz-Novorossiysk oil pipeline, more than 1.5 thousand kilometers long, connecting the fields in the west of Kazakhstan to the Russian Black Sea coast.
The volume of crude shipments by consortium for export in 2015 amounted to 42.759 million tonnes, which is 7% higher than in 2014.
The CPC shareholders are Russia (represented by “Transneft” (24%) and “CPC Company” (7%)) – 31%; Kazakhstan (represented by “KazMunaiGas” (19%) and Kazakhstan Pipeline Ventures LLC (1,75%)) – 20,75%; Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO B.V. – 12,5%, Mobil Caspian Pipeline Company – 7,5%, Rosneft-Shell Caspian Ventures Limited – 7,5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. – 2% and Oryx Caspian Pipeline LLC – 1,75%.
