(MENAFN- AzerNews) By Kamila Aliyeva
Caspian Pipeline Consortium (CPC) exported 49.911 million tons of oil in January-November 2017, showing a 25.47 percent increase compared to the same period in 2016.
In November this year, the volume of oil exports amounted to 5,001 million tons against 4,438 million tons in the corresponding month last year, Kazinform reported.
As noted in the CPC, this is the absolute record of the monthly shipment volumes for the entire history of the operations.
The previous record was also established in March 2017 when 4.929 million tons of oil were shipped to tankers.
Caspian Pipeline Consortium was established to build a pipeline and export Kazakh oil through Russian territory.
CPC owns 1,511 km long pipeline system that connects the oil fields in Western Kazakhstan with the Marine Terminal near Russian Novorossiysk. In 2017 the Caspian Pipeline Consortium will complete the Expansion Project and which will increase its capacity to 67 million tons of oil per annum. Kazakh producer will account for 56 million tons of that volume and Russian producers - for 11 million tons.
CPC Shareholders: Russia (represented by Transneft 24 percent and CPC Company 7 percent) 31 percent; Kazakhstan (represented by KazMunaiGaz 19 percent and Kazakhstan Pipeline Ventures LLC 1.75 percent) 20.75 percent; Chevron Caspian Pipeline Consortium Company 15 percent, LUKARCO B.V. 12.5 percent, Mobil Caspian Pipeline Company 7.5 percent, Rosneft-Shell Caspian Ventures Limited 7.5 percent, BG Overseas Holding Limited 2 percent, Eni International N.A. N.V. 2 percent и Oryx Caspian Pipeline LLC 1.75 percent.
MENAFN0512201701950000ID1096188359
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.