Caspian Pipeline Consortium raises oil exports by 3% in H1, sources say (updated)

BCM Resources

12/07/2024 13:34

(Adds export data for June, detail, CPC stakeholders)
       MOSCOW, July 12 (Reuters) - The Caspian Pipeline
Consortium (CPC), which exports oil from Kazakhstan via the
Black Sea, increased oil supplies in the first half of the year
by 3% year on year to 33.21 million metric tons (1.432 million
barrels per day), two industry sources said on Friday.
    CPC does not comment on its operational data.
    The sources also said that CPC's June exports rose to 5.554
million tons from 4.941 million tons in May thanks to the
completion of maintenance at the giant Tengiz oilfield. 
    The consortium sees its exports in July at 5.4 million tons,
sources said last month.  
    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. 
    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 Mark Potter)