ALMATY, March 7 (Xinhua) -- Kazakhstan plans to reduce oil exports through the Caspian Pipeline Consortium (CPC) system by 70 percent in March, the country's Kazinform news agency reported on Friday, citing Kazakh Deputy Energy Minister Alibek Zhamauov.

The country aims to adjust oil production to meet its supply quota under the Organization of the Petroleum Exporting Countries (OPEC) agreement.

"A significant portion of our oil exports goes through the CPC. In March, volumes through the CPC will be reduced," Zhamauov stated at a press conference in Astana.

He specified that the reduction would amount to 70 percent of Kazakhstan's usual CPC transport volumes for the month.

According to earlier reports, the Kropotkinskaya oil pumping station, the largest facility of the Caspian Pipeline Consortium in Russia's Krasnodar region, came under a drone attack on February 17. Seven unmanned aerial vehicles loaded with explosives and shrapnel were involved in the incident.

The 1,511-kilometer CPC pipeline, which connects oil fields in western Kazakhstan and Russian offshore fields in the Caspian Sea to a marine terminal in Novorossiysk, is the main export route for Kazakh oil. It accounts for more than 80 percent of Kazakhstan's pipeline crude exports. Enditem

Related

Go to Forum >>0 Comment(s)