Caspian Pipeline Consortium Pumps Oil

Ukrainian oil transporting company NaftaTrans said Tuesday that the Caspian Pipeline Consortium has started pumping oil produced in Russia. The first supplies were of Surgutneftegaz company.

Surgutneftegaz plans to pump 300,000 tons by the end of November; and in December Russian state oil firm Rosneft is expected to start oil supplies through the pipeline.

Late October, NaftaTrans completed the construction of the railway and pipeline links to the Kropotkin pumping station, owned by the Consortium, based in Russia?s Krasnodar Region, which allowed Russian oil to be pumped via the CPC.

The shares held in the CPC have been divided between the Russian government with a 24% stake, Kazakhstan?s government with 19%, the Sultanate of Oman with 7%, Chevron Caspian Pipeline Consortium Company with 15%, LUKARCO BV with 12.5%, Rosneft/Shell Caspian Ventures Limited with 7.5%, Mobil Caspian Pipeline Company with 7.5%, Agip International (NA) NV with 2%, BG Overseas Holding Limited with 2%, Kazakhstan Pipeline Ventures LLC with 1.75% and the Oryx Caspian Pipeline LLC with 1.75%.