CPC to boost oil pumping 6% in 2013
ATYRAU. April 12 (Interfax) - The Caspian Pipeline Consortium (CPC) plans to boost oil transportation by 6% this year.
"We saw a decrease last year, but this year we plan to increase pumping by more than 2 million tonnes," CPC chief Nikolai Brunich told Interfax.
In 2012, CTC pumped 33.3 million tonnes of oil, a 2.6% decline over 2011.
The 1,511-kilometer CPC pipeline runs from the Tengiz oil field in West Kazakhstan to the Russian Black Sea coast.
The company's sovereign shareholders are Russia with 31% of the shares, managed by Transneft (24%) and CPC Company - (7%); and Kazakhstan with 20.75% (stake is managed by KazMunayGas (19%) and Kazakhstan Pipeline Ventures LLC (1.75%)). The rest of the consortium belongs to private companies: Chevron Caspian Pipeline Consortium Company (15%), LUKARCO B.V. (12.5%), Rosneft-Shell Caspian Ventures Limited (7.5%), Mobil Caspian Pipeline Company (7.5%), Eni International (N.A.) N.V. (2%), BG Overseas Holding Ltd (2%) and Oryx Caspian Pipeline LLC (1.75%).