CPC increased oil exports by 22% in August
The Caspian Pipeline Consortium (CPC), whose Black Sea terminal is located near Novorossiysk in Russia, an aggressor state, increased oil exports by 22% in August compared with July, to 6.288 million metric tons, or 1.6 million barrels per day. Channel NewsAsia reports, citing two Reuters industry sources.
Shipments after the July decline
In July, shipments of CPC Blend oil amounted to 5.172 million tons, or 1.32 million barrels per day. At that time, a series of attacks on tankers in the Black Sea led to the suspension of shipments at the terminal, while most shipowners did not submit applications for voyages to Russian ports.
According to one of Reuters' sources, exports of Kazakh oil through the CPC system increased to 5.7 million tons in August from 4.6 million tons in July. On a daily basis, this is 25% higher. At the same time, supplies of Russian oil decreased by 4%, from 570,000 to 550,000 tons.
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Terminal figures and September forecast
Total shipments at the CPC Black Sea terminal in January-August amounted to 44.8 million tons, compared with 48.9 million tons in the corresponding period a year earlier. This is approximately 8% lower.
In September, CPC exports are expected to decrease to about 1.5 million barrels per day due to maintenance at the Karachaganak oil, gas and condensate field in Kazakhstan. The consortium mainly exports Kazakh oil, and more than 80% of Kazakhstan's oil exports pass through the CPC pipeline. Oil comes, among other sources, from the Tengiz, Kashagan and Karachaganak fields.
Consortium shareholders
Among CPC shareholders are Russia with a 31% stake, Kazakhstan with 20.75%, and Chevron with 15%, as well as a number of private companies. The consortium does not comment on its commercial operations.
