CPC increased oil export by 14.5% in January-February

The Caspian Pipeline Consortium (CPC) imported 7.05 mln tons of oil in January-February, 14.48% up year on year, reports the message of the consortium.

Oil export made up 3.47 mln tons in February against 3.22 mln tons in the same month last year.
CPC was founded aiming to construct pipeline for Kazakhstani oil export transiting Russia. CPC owns Tengiz-Novorossiysk pipeline 1580 km long, which connects Kazakhstani Western oilfields with Russian Black Sea coast. Last year the volume of oil pumping through CPC reached 40 ml tons.
CPC shareholding includes Russia represented by Transneft owning 24% and CPC Company with 7%. Kazakhstan is represented by KazMunayGas with 19% stake and Kazakhstan Pipeline Ventures LLC  with 1,75%. CPC is also owned by Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12,5%, Mobil Caspian Pipeline Company - 7,5%, Rosneft-Shell Caspian Ventures Limited - 7,5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC - 1,75%.

Source:KazTAG