May 12, 2017 / 10:42 AM / 9 months ago

Caspian oil pipeline eyes massive expansion thanks to new oilfields

ASTRAKHAN, Russia (Reuters) - The Caspian oil pipeline is seen boosting its capacity this year by around 47 percent thanks to new oilfields in the region including the giant Kashagan deposit in Kazakhstan, the consortium’s director general, Nikolai Gorban, said on Friday.

Oil exports via the Caspian Pipeline Consortium (CPC) rose by 3.6 percent to 44.3 million tonnes in 2016 and are expected to grow to almost 65 million tonnes (1.3 million barrels per day) this year.

Reporting by Vladimir Soldatkin; editing by Polina Devitt and Dmitry Solovyov

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