Caspian Pipeline Consortium, which exports crude oil from Kazakhstan via a Russian Black Sea terminal, increased oil exports by around 3% year on year in January – July to 1.43 million barrels per day, two industry sources said on Monday.

That is equivalent to 38.82 million tons for the period, according to the sources, with July exports rising to 5.61 million tons from 5.55 million tons in June.

However, exports are expected to fall by around 9% in August to about 4.9 million metric tons with maintenance underway at giant Tengiz oil field.

The consortium does not comment on its operations.

The main CPC shareholders are Russian oil pipeline monopoly Transneft TRNF_p.MM (24%), Kazakhstan’s KazMunayGas KMGZ.KZ (19%), Chevron Caspian Pipeline Consortium Company CVX.N (15%), Lukarco B.V LKOH.MM (12.5%), Mobil Caspian Pipeline Company XOM.N (7.5%), CPC Company (7%) and Rosneft-Shell Caspian Ventures Limited ROSN.MM, SHEL.L (7.5%).
Source: Reuters (Reporting by Reuters; Editing by Kirsten Donovan)