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CPC to pump up to 51 mln tons of oil this year instead of planned 63 mln tons

Earlier, it was reported that the Caspian Pipeline Consortium reduced oil shipments from the marine terminal near Novorossiysk by 4% from the beginning of 2022 to November 15 to 49.8 mln tons

MOSCOW, December 20. /TASS/. The Caspian Pipeline Consortium (CPC) will pump 50-51 mln tons of oil this year instead of the planned 63 mln tons, Chief Executive Officer of Transneft Nikolay Tokarev told the Rossiya-24 TV channel on Tuesday.

"They planned 62 mln tons for this year, but they will reach around 50 [mln tons], probably 51 [mln tons]," he said.

Meanwhile, Chief Executive Officer of CPC Nikolay Gorban said in a statement in the Panorama CPC corporate magazine earlier that the consortium planned to export around 57 mln tons of oil from the marine terminal near Novorossiysk.

Foreign equipment suppliers have refused to deliver the components necessary to make repairs, Tokarev said. "The issue is that suppliers of that equipment are located abroad, someone in Canada, someone in the Netherlands, someone in America. They have all refused to supply components and provide repair services. We tried to persuade the consortium’s shareholders to get involved as well, because the CPC is not under any sanctions, and the oil volumes are not subject to restrictions either. But unfortunately, all our requests fell on deaf ears, and [we had to] search for Russian suppliers and contractors to carry out all the repairs," he explained.

The Caspian Pipeline Consortium reduced oil shipments from the marine terminal near Novorossiysk by 4% from the beginning of 2022 to November 15 to 49.8 mln tons, the company said earlier.