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Caspian Pipeline Group’s Crude Exports Fall 3.4% in December

The Caspian Pipeline Consortium, the operator of a Russian crude oil export link with foreign shareholders, said oil shipments through its terminal at the Novorossiysk port fell in December from the month before.

The terminal pumped 2.743 million metric tons, or 695,615 barrels a day, CPC said today on its website. That is 3.4 percent less than November exports of 719,804 barrels a day.

The CPC pipeline, whose biggest corporate shareholder is Chevron Corp. with a 15 percent stake, runs from Kazakhstan to the Black Sea. Russia owns 31 percent and Kazakhstan owns 20.75 percent. Exxon Mobil Corp., OAO Lukoil and a joint venture between OAO Rosneft and Royal Dutch Shell Plc are among the other shareholders.

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