News 2025
15.01.2025CPC
In 2024, Caspian Pipeline Consortium’s Marine Terminal loaded 63,009,481 tons of oil on 584 tankers.
The largest volumes of oil in 2024 were received into CPC Pipeline System from Tengiz, Karachaganak and Kashagan fields - 26,819,535 tons 9,816,458 tons and 17,209,596 tons, respectively.
Thus, from 2001 through to 31 December 2024, 951,086,380 tons of crude oil were delivered to the world markets via Tengiz - Novorossiysk Crude Pipeline System.
In accordance with the Shippers’ nominations for 2024, the forecast volumes amounted to approximately 70 mln tons of oil. This figure was included in the CPC budget, which planned the Company's financial expenditures on capital and operational projects and the power redundancy to ensure oil pumping, DRA purchase and other expenditures related to supporting safe, accident-free and sustainable operation of Tengiz - Novorossiysk crude pipeline.
It should be noted that in May 2024, at the meeting of CPC corporate governance bodies an issue was raised about anticipated reduction of oil transportation volumes by 7% compared to the budgeted numbers. The reduction of the forecast volumes until the end of 2024 was caused by a failure to fulfil the Shippers’ preliminary nominations. It was pointed out that the said factor had a significant impact on the Consortium’s revenues and the amount of dividends payment to CPC Shareholders.
Caspian Pipeline Consortium reports that in 2024 all volumes of oil actually delivered into Tengiz - Novorossiysk system in 2024 were transported to CPC Marine Terminal and loaded on tankers. At the same time, in 2024, there were no abnormal or emergency shutdowns of oil transportation, nor any other factors in 2024 on the part of the Consortium affecting reduction of oil production by CPC Shippers and their failure to meet their preliminary nominations for oil transportation.