Black Sea’s CPC Blend oil exports set to rise 1% in Dec -traders
Oil exports via the Caspian Pipeline Consortium (CPC) will rise in December to 5.6 million metric tons from 5.4 million tons in the November plan, said three traders familiar with the export plan.
On a daily basis, CPC Blend oil loadings will rise by only 1% from November, Reuters calculations showed. December is one day longer than November.
Actual CPC Blend oil loadings in November could be lower than planned owing to suspensions in exports because of storms.
Oil loadings from the CPC terminal were suspended last week because of bad weather.
The main CPC shareholders are Russian oil pipeline monopoly Transneft (24%), Kazakhstan’s KazMunayGas (19%), Chevron Caspian Pipeline Consortium Company (15%) and Lukarco (12.5%).
Source: Reuters (Reporting by Reuters,Editing by David Goodman)