CPC consortium says exported 55.1mn T of oil in 2017

MOSCOW: Oil exports via the Caspian Pipeline Consortium hit a record high of 55.1 million tonnes in 2017, the group said in a statement on Tuesday.

It attributed the rise, from the 44.3 million tonnes exported in 2016, to the completion of a project expanding the capacity of a pipeline connecting Kazakhstan’s oil fields to Russia’s port of Novorossiisk.

The consortium involves Russian state-owned pipeline monopoly Transneft, the government of Kazakhstan, US oil company Chevron and Russia’s Lukoil.