Web Desk February 17, 2021

The net profit of the Caspian Pipeline Consortium (CPC) in 2020 amounted to $ 630 million, and revenue – more than $ 2 billion. CPC General Director Nikolay Gorban announced this to journalists yesterday. The first Kazakh oil delivered by the CPC pipeline was offloaded on 13 October 2001 from the Yuzhnaya Ozereyka terminal near the Black Sea port of Novorossiysk. The 1,511 km pipeline connects oil fields in western Kazakhstan with a Russian terminal on the Black Sea. In addition to Kazakh oil, the pipeline also transports raw materials from Russian producers. According to Gorban, in 2020, Caspian Pipeline Consortium OJSC fully paid off debts to shareholders in the amount of $ 1 billion. In 2020, taxes in the amount of more than $ 70 million were paid to the budget of Kazakhstan in connection with the operation of the pipeline, in addition to which $ 16 million were taxes on the property. Gorban also said that the company will start paying dividends to shareholders in 2021. CPC General Director noted that in 2020 a total of more than 59 million tons of oil transported through the pipeline were loaded onto tankers and exported to world markets


Source: Turan News Agency

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