Middle East Economic Survey

VOL. XLVIII

No 28

11-July-2005

Caspian

CPC Pipeline Exports Decline

Crude exports via the Caspian Pipeline Consortium (CPC) network declined during June to average 596,000 b/d, down from 653,000 b/d in May and 696,000 b/d in April, when exports reached their highest volume since the pipeline began operations in October 2001. The fall in exports, which are loaded at a terminal near Novorossysk, was attributed to a decline in Russian crude shipments through the pipeline....