Caspian Pipeline Consortium cuts oil exports by 1% in Jan - Oct, sources say

BCM Resources

13/11/2024 09:50

MOSCOW, Nov 13 (Reuters) - The Caspian Pipeline
Consortium (CPC), which exports Kazakhstan's oil via the Black
Sea, reduced oil supplies in January - October by around 1.2%
year on year to 1.378 million barrels per day, two industry
sources said on Wednesday.
    In October alone, CPC exports declined to 4.632 million
metric tons from 4.682 million tons in September amid
maintenance at the Kashagan oilfield, according to the sources.
    The consortium does not comment on its operational
activities. It plans to boost CPC Blend oil exports in November
to 5.4 million tons.
    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 oilfield.
    The main CPC shareholders are Russian oil pipeline monopoly
Transneft  TRNF_p.MM  (24%), Kazakhstan's KazMunayGas  KMGZ.KZ 
(19%), Chevron Caspian Pipeline Consortium Company  CVX.N 
(15%), Lukarco B.V  LKOH.MM  (12.5%), Mobil Caspian Pipeline
Company  XOM.N  (7.5%), CPC Company (7%) and Rosneft-Shell
Caspian Ventures Limited  ROSN.MM   SHEL.L  (7.5%).

 (Reporting by Reuters, Editing by Louise Heavens)