CPC lowers 2018 export plan, as eastbound flow rises

摘要

The Caspian Pipeline Consortium (CPC) has revised lower its initial forecast for crude flows through its export system by 7mn t (140,000 b/d) to 60mn t this year. This would still represent an increase of nearly 9pc compared with 2017, but is far short of the previously expected rise of more than 21.5pc this year. Russian and Kazakh crude producers had requested 67mn t of capacity in the CPC system in 2018, 'but we are pragmatic and realise that the maximum is unlikely to be reached', CPC general director Nikolay Gorban says. Kazakh crude accounted for most of the requested capacity at 60mn t and Russian producers for 7mn t.