Bloomberg News

Caspian CPC Crude July Daily Exports to Rise By 1.84%

June 12, 2012

The Caspian Pipeline Consortium, which operates the only oil export link in Russia with foreign shareholders, will boost daily crude exports for July from the Black Sea by 1.8 percent from this month, a preliminary loading program obtained by Bloomberg News showed.

The group, known as CPC, will ship 25 cargoes totaling 2.52 million metric tons, according to the schedule. That’s equal to 19.6 million barrels, or 632,754 barrels a day, compared with 621,341 barrels for June.

The CPC pipeline, in which Chevron Corp. (CVX:US) is the biggest corporate shareholder with a 15 percent stake, carries crude from Kazakhstan’s western fields to the terminal close to Russia’s Novorossiysk port on the Black Sea. Russia owns 31 percent and Kazakhstan 20.75 percent. Exxon Mobil Corp., OAO Lukoil and a joint venture between OAO Rosneft and Royal Dutch Shell Plc (RDSA) are among the other shareholders.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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