Caspian Pipeline Consortium raises oil exports 4% y/y in Q1, sources say

Caspian Pipeline Consortium, which exports Kazakhstan’s oil from the Black Sea, increased oil supplies in the first quarter by 4% from the same period a year ago to 17.195 million metric tons (1.483 million barrels per day), two industry sources said on Monday.

In March alone, its exports increased to 5.831 million tons (1.477 million bpd) from 5.248 million tons in February, according to a source.

CPC does not comment on its operational data.

In 2023, it raised exports by 8% from 2022 to 63.474 million tons. It expects to increase it further this year, to more than 70 million tons.

CPC’s main shareholders are Russia with 31%, Kazakhstan’s Kazmunaigaz with 19% and Chevron Caspian Pipeline Consortium Co with 15%.
Source: Reuters (Reporting by Reuters; editing by David Evans)