Caspian CPC to Boost Daily Crude Shipments by 5.1% in May

The Caspian Pipeline Consortium will in May increase daily crude shipments from the Black Sea by 5.1 percent from this month, a loading program obtained by Bloomberg News showed.

The group, which operates the only oil export link in Russia with foreign shareholders, will ship 2.845 million metric tons, or about 713,000 barrels a day, according to the schedule. That compares with 678,000 barrels in April.

CPC pipeline, in which Chevron Corp. 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. 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 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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