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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 to near a one-year high, according to a final loading program obtained by Bloomberg News.
The group, known as CPC, will ship 26 cargoes totaling 2.6 million metric tons, according to the schedule. That’s equal to 20.2 million barrels, or 650,888 barrels a day, up 4.8 percent from 621,341 barrels planned for June and the most since September 2011.
This compares with 25 cargoes totaling 2.52 million tons, or 632,754 barrels a day, in the preliminary plan for July released on June 12.
Actual shipments from the terminal were 2.66 million tons in June, compared with 2.397 million tons in May, CPC said today on its website. Buyers typically load cargoes that swing within a 5-percent range depending on operational situations.
The CPC pipeline, in which Chevron Corp. (CVX) is the biggest corporate shareholder with a 15 percent stake, carries crude from Kazakhstan’s western fields to a terminal near 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.
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