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Oil exports via CPC pipeline up 7.4 pct in Jan m/m
February 3, 2012 / 9:41 AM / 6 years ago

Oil exports via CPC pipeline up 7.4 pct in Jan m/m

MOSCOW, Feb 3 (Reuters) - Russian and Kazakh oil exports via the Caspian Pipeline Consortium (CPC) rose in January by 7.4 percent, month-on-month, CPC said on Friday.

The pipeline group shipped an average of 83,979 tonnes per day (659,235 barrels) in the first month of the year, up from 78,229 tonnes (614,098 barrels) in December.

This was down from 94,936 tonnes a day in January 2011. The group gave no reason for the decline.

Transneft, Russia’s state-owned pipeline monopoly, owns 31 percent of CPC. The Kazakh state, U.S. oil major Chevron and Russia’s LUKOIL also have stakes.

The group exports CPC Blend from a terminal near the Russian port of Novorossiisk on the Black Sea. Russian companies such as Rosneft, Surgutneftegaz and TNK-BP also ship crude via CPC.

CPC connects Kazakhstan’s Caspian Sea oil deposits with Novorossiisk. Although the CPC pipeline traverses Russia and was developed in conjunction with the Russian government, it was the first to give the Caspian Sea region and Kazakhstan a viable alternative to the Russian dominated northern export routes.

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