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Caspian Pipeline Consortium raises oil exports by 3% in H1, sources say
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Caspian Pipeline Consortium raises oil exports by 3% in H1, sources say
Jul 12, 2024 6:05 AM

MOSCOW, July 12 (Reuters) - The Caspian Pipeline

Consortium (CPC), which exports oil from Kazakhstan via the

Black Sea, increased oil supplies in the first half of the year

by 3% year on year to 33.21 million metric tons (1.432 million

barrels per day), two industry sources said on Friday.

CPC does not comment on its operational data.

The sources also said that CPC's June exports rose to 5.554

million tons from 4.941 million tons in May thanks to the

completion of maintenance at the giant Tengiz oilfield.

The consortium sees its exports in July at 5.4 million tons,

sources said last month.

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.

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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