CPC increases oil exports by 12% in Jan-May 2018

ASTANA. KAZINFORM - In January-May 2018, the Caspian Pipeline Consortium (CPC) exported 25.306 million tons of oil, which is 12.01 percent more than in the comparable period a year earlier, Kazinform cites CPC.

In May this year, the oil exports amounted to 5.29 million tons in contrast to 4.872 million tons in May 2017.

The Caspian Pipeline Consortium was established to build a pipeline and export Kazakhstan's oil through Russia. CPC owns the Tengiz-Novorossiysk oil pipeline for a total length of over 1,500 km, connecting Western Kazakhstan fields with the Russian Black Sea coast. In 2017, CPC oil export was 55.107 million tons, or 24.4 percent more than in 2016.

CPC's shareholders are the Russian Federation - 24 percent, JSC National Company KazMunayGaz - 19 percent, Chevron Caspian Pipeline Consortium Company - 15 percent, LUKARCO B.V. - 12.5 percent, Mobil Caspian Pipeline Company - 7.5 percent, Rosneft-Shell Caspian Ventures Limited - 7.5 percent, and CPC Company - 7 percent, BG Overseas Holding Limited - 2 percent, Eni International N. A N.V. - 2 per cent, Kazakhstan Pipeline Ventures LLC - 1.75 per cent, and Oryx Caspian Pipeline LLC - 1.75 per cent.