June 4, 2018 / 9:54 AM / 4 months ago

Caspian Pipeline Consortium oil exports rise in May

MOSCOW, June 4 (Reuters) - Oil exports via the Caspian Pipeline Consortium rose to 1.35 million barrels per day in May year-on-year, the group said in a statement on Monday.

It said it exported 5.29 million tonnes of oil last month, up by 418,330 tonnes from May 2017. CPC ships around three quarters of oil exports from Kazakhstan. It stretches 1,511 kilometres (939 miles) and exports oil to the Black Sea port of Novorossiisk from western Kazakhstan.

The consortium involves Russian state-owned pipeline monopoly Transneft, KazMunaiGaz, U.S. oil company Chevron and Russia’s Lukoil. (Reporting by Vladimir Soldatkin; Editing by Louise Heavens)

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