Caspian Pipeline Consortium Increased Oil Export By 9.1% In Q1

Caspian Pipeline Consortium Increased Oil Export By 9.1% In Q1

The Caspian Pipeline Consortium (CPC) exported 13.014 mln tons of oil in January-March 2017, 9.07% up year on year, reports the message of the company.

According to the consortium, oil export made 4.929 mln tons in March against 4.21 mln tons in March last year.

The previous record was set in December, 2016, when 4,517,286 tons of oil (35,729,373 barrels) were loaded on tankers in a month.

Over the entire history of CPC, its Marine Terminal has loaded for export more than 4.5 thousand oil vessels which took nearly 480 million tons of oil into their tanks.

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CPC pipeline system is one of the largest investment projects in the energy industry with participation of foreign capital on the CIS territory. The length of the pipeline connecting the oil fields in Western Kazakhstan with the Marine Terminal near Novorossiysk is 1,511 km. CPC Marine Terminal is equipped with single point moorings which allow for safe tanker lifting at a considerable distance from the shore, also when the weather conditions are unfavorable.

CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7 %) – 31%; Republic of Kazakhstan (represented by KazMunayGaz – 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% и Oryx Caspian Pipeline LLC – 1.75%.