Kazakh oil exports by Caspian Pipeline Consortium increase

Oil&Gas Materials 5 March 2019 13:58 (UTC +04:00)

Baku, Azerbaijan, Mar. 5

By Rashid Shirinov – Trend:

The Caspian Pipeline Consortium (CPC) exported 10,51 million tons of oil in January-February 2019, which is 11.27 percent more year-on-year, Trend reports via Kazakh media.

In February alone, exports amounted to 4,89 million tons compared to 4.59 million tons in February last year.

It should be noted that of the 61.08 million tons of oil exported by CPC last year, 54.3 million tons was the Kazakh oil.

The largest oil volumes came from Kazakhstan’s Tengiz, Kashagan and Karachaganak fields - 28.7 million tons, 13.2 million tons, and 10.3 million tons, respectively.

CPC pipeline system is one of the major investment projects in energy sector with participation of foreign capital in the CIS. The Tengiz-Novorossiysk pipeline transports over two thirds of all export crude oil of Kazakhstan.

Major CPC shareholders are Russia (31 percent), Kazakhstan (20.75 percent), Chevron Caspian Pipeline Consortium Company (15 percent) and LukArco B. V. (12.5 percent).


Follow the author on Twitter: @ShirinovRashid