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Oil export through Caspian Pipeline Consortium keeps at 28 mln tonnes in 8 months

September 06, 14:58 UTC+3 MOSCOW
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MOSCOW, September 6. /TASS/. Export of crude oil through the Caspian Pipeline Consortium (CPC) slightly declined by 0.1% in January-July period of 2016 to 28.078 mln tonnes, the consortium reported.

In the same period of 2015, oil export stood at 28.112 mln tonnes.

In August 2016, export dropped by 19.8% to 2.482 mln tonnes year-on-year. Last August crude export through CPC amounted to 3.095 mln tonnes.

Caspian Pipeline Consortium is a pipeline system, which ties Kazakhstan with the company’s marine terminal in Yuzhnaya Ozereevka (Novorossiysk), where the crude oil is loaded on ocean going tankers for further delivery to the world markets.

CPC’s main shareholders are the Russian Federation (31% stake represented by Transneft - 24% and CPC Company - 7%); Republic of Kazakhstan (20.75% stake represented by KazMunayGaz - 19% and Kazakhstan Pipeline Ventures LLC - 1.75%); 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%).

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