Caspian Pipeline plans to boost oil exports by 20 pct in November

Russian and Kazakh oil exports via the Caspian Pipeline Consortium (CPC) are set to increase by 20 percent in November from the previous month, a preliminary schedule showed on Friday.

The schedule, seen by Reuters, showed loadings carried from Kazakhstan’s Caspian Sea oil deposits to Russia’s Black Sea port of Novorossiisk may rise to 3.604 million tonnes (949,053 barrels per day) this month from 3.096 million in October.

The oil flows will be boosted thanks to planned maintenance at the pipeline on Oct. 21-23 and at an oil treatment plant.

Although it traverses Russia and was developed in conjunction with the Russian government, the pipeline was the first to give the Caspian Sea region and Kazakhstan a viable alternative to Russian-dominated northern export routes.

The CPC consortium involves Russian state-owned pipeline monopoly Transneft, the government of Kazakhstan, U.S. oil company Chevron and Russia’s Lukoil.

 

 

 

 
Source: Reuters

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