Caspian Pipeline Consortium's oil exports declined in October by 13% m/m, sources say

Reuters
11/12
Caspian Pipeline Consortium's oil exports declined in October by 13% m/m, sources say

MOSCOW, Nov 12 (Reuters) - The Caspian Pipeline Consortium's oil exports from Kazakhstan via a Russian Black Sea terminal declined last month by 13% from September to 5.947 million metric tons, or 1.5 million barrels per day, two industry sources said on Wednesday.

The exports declined against the background of maintenance at Kazakhstan's largest oilfield, Tengiz, operated by a Chevron CVX.N subsidiary.

At the same time, exports through CPC in January to October jumped by 16% from the same period last year, to 61.453 million tons, according to the sources.

Last month, the CPC lowered its oil pumping plan for this year to 74 million tons from 76 million tons.

CPC ships oil through a pipeline, which carries more than 80% of all Kazakh oil exports, and further via Russia's Yuzhnaya Ozereevka terminal in the Black Sea.

CPC's shareholders include U.S. majors Chevron and Exxon Mobil XOM.N.

(Reporting by Reuters;Editing by Alison Williams)

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