Caspian Pipeline Consortium prepared to extend oil provide in 2023 | Jobi Cool

MOSCOW, Jan 13 (Reuters) – The Caspian Pipeline Consortium (CPC) is poised to extend oil provides in 2023, CPC quoted Director Basic Nikolai Gorban as saying on Friday due to elevated capability.

CPC, which handles about 1% of world oil, additionally stated it shipped 58.7 million tonnes in 2022, together with 52.2 tonnes from Kazakhstan.

The consortium, which provides oil from Kazakhstan by way of a Black Sea terminal, final yr confronted upkeep issues on the terminal and oil fields, together with Tengiz, the principle supply of oil for CPC.

Kazakhstan is the second-largest oil producer among the many former Soviet international locations after Russia, pumping about 1.5 million barrels a day, and each international locations are members of the OPEC+ group to coordinate oil manufacturing.

The principle CPC shareholders are Russian oil pipeline monopoly Transneft (TRNF_p.MM) with 24%, Kazakhstan’s KazMunayGas (KMGZ.KZ) (19%), Chevron Caspian Pipeline Consortium Firm (CVX.N) (15%), LUKARCO BV (LKOH ) .MM) (12.5%), Mobil Caspian Pipeline Firm (7.5%), CPC Firm (7%) and Rosneft-Shell Caspian Ventures Restricted (ROSN.MM), (SHEL.L) (7.5 %).

Reporting by Vladimir Soldatkin Modifying by David Goodman and Mark Potter

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