News 2017June 2017
There were 40.9 million tons of Kazakh oil was pumped through the pipeline system of the Caspian Pipeline Consortium (CPC) in 2016, the CPC press service reported. On May 16-18 the annual general meetings of shareholders of "CPC-R" JSC and "CPC-K" JSC took place in Russian city of Gelendzhik.
The report of the General Director on the status of production and economic activities of the consortium was heard, the results of the company's work in 2016 were summed up, and the measures to complete the expansion project of the Tengiz-Novorossiysk pipeline system were discussed as well. "General Director Nikolai Gorban informed the shareholders that in 2016 the total quantity of oil shipment at the CPC sea terminal was 44.3 million tons (+3.5% against that of in 2015), including 40.9 million tons of oil produced by Kazakhstan producers (+7.6% against that of in 2015), and 3.4 million tons by Russian producers (-29.2% against that of in 2015)", - the press release said.
"CPC's revenue under IFRS was $1.6 billion, which is 7% higher compared to 2015 ($1.5 billion)," - the CEO recalled. In 2016, within the framework of the project to expand the capacity of the oil pipeline system, the scope of works on reconstruction and expansion of the tank farm of the CPC marine terminal was completed. Its capacity increased to 1 million tons. In 2017, it is planned to pump through the pipeline "Tengiz-Novorossiysk" 65.7 million tons of oil. Of these, the Kazakh resources will account for 54.7 million tons, the Russian - 11 million tons.