Caspian Pipeline Consortium Sees Increased Oil Transport Volume

2024-09-13 09:24:58

(MENAFN- AzerNews) Nazrin Abdul Read more

The volume of oil transported through the Caspian Pipeline Consortium (CPC) system has risen compared to last year, Azernews reports.

CPC General Director Nikolay Gorban announced this during a management meeting in Almaty. He revealed that by the end of August this year, the CPC system had exported 43.8 million tons of crude oil, with 405 tankers departing from the Novorossiysk port. This marks an increase from last year's 42.7 million tons and 391 tankers.

The meeting also involved a review of the CPC's financial activities.

The CPC oil pipeline system is a critical route for transporting oil from the Caspian Sea basin to global markets. The 1,500-kilometer pipeline connects Western Kazakhstan's oil fields to the Black Sea coast of Russia, where oil is transferred to tankers at CPC's marine terminal. Major shareholders in the consortium include Russia's Transneft, Kazakhstan's Kazmunaigas, as well as international companies like Chevron, Lukoil, ExxonMobil, Rosneft, and Shell.

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