CPC upgrades oil pumping outlook by 8% to 63.5 mln tns in 2023

MOSCOW, Sep 15 (PRIME) -- Caspian Pipeline Consortium (CPC) has upgraded its outlook for oil pumping through its pipeline system to 63.5 million tonnes in 2023, up by 8% on the year, CEO Nikolai Gorban said on Friday.

“This year, we project (pumping) of 63.5 million tonnes, which is a significant rise,” he said.

In June, Gorban told PRIME that CPC’s throughput would amount to 60–61 million tonnes in the entire 2023.

The multinational company pumps oil from the west of Kazakhstan to a terminal at the Black Sea port of Novorossiysk. The consortium’s largest shareholders are Russia with 31%, Kazakhstan with 20.75% and Chevron Caspian Pipeline Consortium Company with 15%.

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