CPC says reduces 2018 oil intake forecast to 60 mln tonnes

MOSCOW, Aug 21 (PRIME) -- Caspian Pipeline Consortium (CPC) has reduced its oil intake forecast for 2018 to 60 million tonnes from 67 million tonnes, CEO Nikolai Gorban told PRIME on Tuesday.

“We had 67 million tonnes of orders for this year, but we… understand that the figure is unlikely to be reached” as orders from oil producers are just technical information while real volumes are usually lower, he said.

Gorban said earlier that the company planned to deliver 6 million tonnes of oil in 2018, up 21.5% on the year, including 60 million tonnes from Kazakhstan’s oilfields and 7 million tonnes from Russia.

A spokesperson for CPC told PRIME that the use of additives may raise the pipeline’s capacity to 72 million tonnes annually from the current 67 million tonnes, but there is no necessity in such expansion now.

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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