From January to July 2015 the Caspian Pipeline Consortium (CPC) has increased oil pumping by 2.5 million tons up to 25.02 million tons against the same period last year, reads the statistical information of the company.
It was earlier forecasted that in 2015 CPC will increase pumping up to 45-46 million tons against 40 million in 2014.
1511-km-long CPC oil pipeline is the biggest oil transportation route from the Caspian Sea to the Black Sea coast. Oil extracted in Russia is pumped into the system on the Kropotkin oil pumping station in Krasnodar region.
The CPC shareholders include Russia (in the person of Transneft and CPC Company) – 31%, Kazakhstan (represented by KazMunaiGas and Kazakhstan Pipeline Ventures LLC) – 20.75%, Chevron Caspian Pipeline Consortium Company — 15%, LUKARCO B.V. — 12.5%, Mobil Caspian Pipeline Company — 7.5%, Rosneft-Shell Caspian Ventures Ltd — 7.5%, BG Overseas Holding Ltd — 2%, Eni International H.A. H.V. S.ar.l. — 2%, Oryx Caspian Pipeline LLC — 1.75%, reported http://ria.ru. --0--
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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