CPC exported 53M tons of oil in 10 months

The Caspian Pipeline Consortium (CPC) exported 53 million tons of oil in the first ten months of 2024, Report informs referring to the CPC press service announcement.

"From January to October 31 of this year, CPC exported over 53 million tons of oil, which was loaded onto 492 tankers, exceeding last year's figure by two vessels," reads the report.

CPC also notes that the pipeline's operational readiness coefficient since the beginning of 2024 is almost 98%.

More than 26,000 maintenance works have been performed on mechanical and technological equipment at oil pumping stations and along the pipeline during this period.

In 2024, CPC plans to transport approximately 65.2 million tons of Kazakh oil. In 2023, CPC provided transportation and export shipment of 63.47 million tons of oil (an 8.1% increase). The CPC pipeline, stretching 1,500 kilometers, connects Western Kazakhstan's oil fields with Russia's Black Sea coast, where oil is loaded onto tankers through CPC's marine terminal.

The consortium's major shareholders include Russia (through Transneft), Kazakhstan (through KazMunayGas), Chevron entities, Lukoil, ExxonMobil, and a joint venture between Rosneft and Shell.