Caspian CPC Crude November Exports to Rise 18%, Final Plan Shows
The Caspian Pipeline Consortium, which operates the only oil export link in Russia with foreign shareholders, will increase daily crude exports from the Black Sea in November by 18 percent from this month, a final loading program obtained by Bloomberg News showed.
The group, known as CPC, will ship 2.6 million metric tons compared with 2.3 million tons in October, according to the schedule. That’s equal to 678,321 barrels a day, up from 576,985 barrels last month.
This compares with 2.5 million tons in the preliminary schedule released on Oct. 11.
The final program comprises 11 cargoes of 134,000 to 140,000 tons each and 13 consignments of 80,000 to 93,500 tons.
The CPC pipeline, in which Chevron Corp. (CVX) is the biggest corporate shareholder with a 15 percent stake, carries crude from Kazakhstan’s western fields to a terminal near Russia’s Novorossiysk port on the Black Sea. Russia owns 31 percent and Kazakhstan 20.75 percent. Exxon Mobil Corp., OAO Lukoil and a joint venture between OAO Rosneft and Royal Dutch Shell Plc (RDSA) are among the other shareholders.
Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.
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