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Caspian Pipeline Consortium cuts oil exports by 1% in Jan - Oct, sources say
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Caspian Pipeline Consortium cuts oil exports by 1% in Jan - Oct, sources say
Nov 13, 2024 2:40 AM

MOSCOW, Nov 13 (Reuters) - The Caspian Pipeline

Consortium (CPC), which exports Kazakhstan's oil via the Black

Sea, reduced oil supplies in January - October by around 1.2%

year on year to 1.378 million barrels per day, two industry

sources said on Wednesday.

In October alone, CPC exports declined to 4.632 million

metric tons from 4.682 million tons in September amid

maintenance at the Kashagan oilfield, according to the sources.

The consortium does not comment on its operational

activities. It plans to boost CPC Blend oil exports in November

to 5.4 million tons.

CPC said in May it expected its oil exports to fall 7% short

of a preliminary target this year owing to lower loadings from

Tengiz oilfield.

The main CPC shareholders are Russian oil pipeline monopoly

Transneft (24%), Kazakhstan's KazMunayGas

(19%), Chevron Caspian Pipeline Consortium Company

(15%), Lukarco B.V (12.5%), Mobil Caspian Pipeline

Company (7.5%), CPC Company (7%) and Rosneft-Shell

Caspian Ventures Limited (7.5%).

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