Caspian Pipeline Consortium ready to increase oil supply in 2023 (updated)

BCM Resources

13/01/2023 08:16

(Adds detail, background)
       MOSCOW, Jan 13 (Reuters) - The Caspian Pipeline
Consortium (CPC) is ready to increase oil supply in 2023, CPC
cited director general Nikolai Gorban as saying on Friday,
thanks to increased capacity.
    CPC, which handles about 1% of global oil, also said it
shipped 58.7 million tonnes in 2022, including 52.2 tonnes from
Kazakhstan.
    The consortium, which delivers oil from Kazakhstan via a
Black Sea terminal, last year faced maintenance issues at the
terminal and oil fields, including Tengiz, the key source of oil
for CPC.
    Kazakhstan is the second-biggest oil producer among the
ex-Soviet countries after Russia, pumping around 1.5 million
barrels per day, and both countries are members of the OPEC+
group to coordinate oil production.
    The main CPC shareholders are Russian oil pipeline monopoly
Transneft  TRNF_p.MM  with 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 (7.5%), CPC Company (7%) and Rosneft-Shell
Caspian Ventures Limited  ROSN.MM   SHEL.L  (7.5%).
 (Reporting by Vladimir Soldatkin
Editing by David Goodman and Mark Potter)
 ((vladimir.soldatkin@thomsonreuters.com; twitter:
@vsoldatkin;))