Caspian Pipeline August Crude Exports Fall 12% From Year Earlier
The Caspian Pipeline Consortium, the only operator of a crude export pipeline in Russia with foreign shareholders, said oil shipments through its terminal at Novorossiysk fell in August.
The terminal pumped 2.439 million metric tons, or 19.2 million barrels, down 12 percent from 2.77 million tons a year earlier, CPC said on its website.
The CPC pipeline, whose biggest corporate shareholder is Chevron Corp. (CVX) with a 15 percent stake, runs from Kazakhstan to the Black Sea. Russia owns 31 percent while Kazakhstan owns 20.75 percent. Exxon Mobil Corp., OAO Lukoil and a joint venture between OAO Rosneft and Royal Dutch Shell Plc are among other shareholders.
To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
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