Baku, Azerbaijan, Nov. 13
By Nigar Guliyeva- Trend:
The Caspian Pipeline Consortium (CPC) exported 44.91 million tons of oil in January-October 2017, which is 27.07 percent more than in the same period in 2016, Kazinform reported citing the CPC data.
In October, the volume of oil exports amounted to 4.654 million tons against 3.968 million tons in the corresponding month last year.
The Consortium was established to build a pipeline and export Kazakh oil through Russian territory. CPC owns the Tengiz-Novorossiysk oil pipeline with a total length of more than 1,500 km, which connects the western Kazakhstan deposits with the Russian Black Sea coast.
CPC shareholders are Transneft (24 percent), KazMunaiGas (19 percent), Chevron (15 percent), LUKARCO (12.5 percent), Mobil Caspian Pipeline Company (7.5 percent), Rosneft Shell Caspian Ventures Ltd. (7.5 percent), CPC Company (7 percent), BG Overseas Holdings Limited (2 percent), Eni (2 percent), Kazakhstan Pipeline Ventures (1.75 percent) and Oryx Caspian Pipeline (1.75 percent).