Caspian Pipeline October Crude Exports Fall to Lowest Since 2006

The Caspian Pipeline Consortium, the only operator of a crude export link in Russia with foreign shareholders, said oil shipments through its terminal at Novorossiysk fell in October to the lowest monthly level since February 2006.

The terminal pumped 2.228 million metric tons, or 561,613 barrels a day, down 11 percent from 2.506 million tons a year earlier, CPC said today on its website. The group shipped 2.144 million tons in February 2006, according to the 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 (RDSA) 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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