Oil exports via CPC terminal up 22.8% to 9.4 mln t in QI'14
In January-March 2014, oil exports via CPC Marine Terminal in Novorossiysk surged by 22.8%, year-on-year, to 9,448,805 t, CPC says.
In March, CPC exports increased by 22.5%, year-on-year to 3,293,334 t.
Caspian Pipeline Consortium (CPC) is a major international crude oil transportation project with the participation of Russia, Kazakhstan and leading international oil and gas companies (such as Chevron, Shell, ExxonMobil, Eni, British Gas, Rosneft, Lukoil), created for construction and operation of a trunk pipeline more than1.5 thousand kilometers long. The primary source of crude oil is from prolific fields in Western Kazakhstan with additional crude oil from Russian producers. This crude oil is transported through the CPC pipeline to the Company’s Marine Terminal in Yuzhnaya Ozereevka (Novorossiysk) where the crude oil is loaded on ocean going tankers for further delivery to the world markets. In 2013, exports via CPC climbed by 6.9% to 32.7 mln t.
