• 2021 February 26 11:42

    CPC system to transport 67.5 mln tons of crude oil in 2021

    In 2020, CPC pipeline system oil throughput exceeded 59 million tons of crude oil

    On 25 February 2021, Nikolay Gorban, CPC General Director, speaking in the Company’s Moscow office, answered questions from Russian and international media correspondents. The conversation with the journalists covered CPC’s performance results in 2020 and prospects for 2021, as well as of other issues related to the Company's current activities, CPC says in its press release.

    Opening the press conference, the Consortium’s General Director highlighted that the current year, 2021, is an anniversary for CPC. 25 years ago, on 6 December 1996, a Shareholder Agreement was signed that formed the Consortium in its present form. Also this year, it will be 20 years since the CPC pipeline system started to be filled with crude oil from the Tengiz field and 20 years since the first tanker was loaded at the CPC Marine Terminal in Novorossiysk.

    CPC finished 2021 with a base revenue of 2.1 billion in equivalent US dollars. The company’s profit before tax totaled USD 871,200,000, net profit after tax - USD 630,100,000. CPC paid USD 154,900,000 in tax payments into Russia’ s budget and USD 86,200,000 into Kazakhstan's budget.

    The Consortium’s General Director stated that owing to its stable financial performance CPC had fully repaid the shareholder loan last year by paying out its last portion equal to USD 990 million. In May 2021, CPC is going to start paying dividends on shares as planned - they will start to be calculated back since the forth quarter 2020.

    In 2020, CPC pipeline system oil throughput amounted to 59,027,273 tons of crude oil. That is approximately 4,000,200 tons less than in 2019. The reductions in throughput and loading are directly connected with a number of objective interrelated factors: COVID 19 pandemics, OPEC+ crude oil production restrictions, significant business recession in the world and, as a consequence, reduction in world market demand for energy resources.

    The CPC Marine Terminal loaded 572 tankers in 2020 (597 in 2019). All received shipper nominations were met and CPC steadily held the first place of cargo terminals in Russia throughout 2020, according to the TASS rating.

    Based on last year’s performance results, CPC and contractor personnel achieved over 27 million hours without recordable injuries and incidents and about 80 kilometers run by vehicles without recordable MVAs. These significant results come as a result of CPC’s introducing a “zero injury” concept and gradually deploying a Safety Culture.

    The composition of crude oils included in the CPC Blend remains constant. API density trends for actual export deliveries of the CPC Blend CPC has made at the terminal in Yuzhnaya Ozereevka over the past five years on average have values within the 46.2-46.7 degrees API range.

    In 2020, the CPC Blend had the following average values: gravity - 46.7oAPI, sulfur content - 0.54% mass.

    In 2021, based on available shipper nominations, the CPC system is planned to transport 67.5 mln tons of crude oil. However, the Consortium is ready to meet all of the shippers’ needs, given its growing technical capabilities.

    The CPC General Director highlighted that DBN execution was on schedule. The construction of new facilities is starting under the program at the Consortium's pump stations and Marine Terminal in March 2021.

    In 2021, under the DBN program, it is planned to complete designing the main scope in Russia and Kazakhstan, to complete deliveries of all main long-lead equipment items, and to mobilize contractors to DBN sites in Russia and Kazakhstan. Also, after the contractors complete all permitting steps, the 2020 plan is to complete the full “zero cycle” (groundwork) scope.

    Nikolay Gorban reminded that the budget for the Debottlenecking Program had been approved on 19 May 2019 at USD 599.9 million. With the completion of the DBN in 2023, the Tengiz-Novorossiysk pipeline system will reach a throughput capacity of at least 72.5 mln tons of crude oil per annum out of the Republic of Kazakhstan and about 80 mln tons in total for the oil pipeline.

    In total, in 2021, CPC is going to spend USD 232.7 mln on the DBN Program, including USD 159.4 mln in Russia and USD 73.3 mln in Kazakhstan.

    The CPC pipeline system is one of the largest investment projects with foreign capital in the energy sector in the CIS. The length of Tengiz-Novorossiysk pipeline is 1,511 km; more than two thirds of all export crude oil from Kazakhstan and crude oil from the Russian fields, including those in the Caspian Region, are transported by this route. CPC Marine Terminal is equipped with three Single Point Moorings (SPM) that allow to load tankers safely at a significant distance offshore, also in poor weather conditions.

    CPC Shareholders: Russian Federation (represented by Transneft – 24% and CPC Company – 7%) – 31%; Republic of Kazakhstan (represented by Kazmunaygaz – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%) – 20.75%; Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. - 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75%.




2021 April 11

15:32 Hagland orders environmental friendly newbuilds
14:17 Stena Bulk unveils decarbonisation plant to become net zero emissions business by 2050
13:48 Belships fleet expansion and share issue
12:17 USCG Cutter Kimball returns home from expeditionary patrol in the Pacific
11:38 Meyer Weft's new logistics center starts operation
10:56 Norwegian Coastal Administration: Eemslift Hendrika has been towed to safe harbour

2021 April 10

15:14 NAPA joins Finnish Clean Propulsion Technologies consortium to accelerate development of low-carbon solutions in shipping
14:27 The Valencia Containerised Freight Index (VCFI) increased by 17.48% in March
13:52 A.P. Moller-Maersk helps Amica taking to the rails
12:46 TORM announces capital increase in connection with delivery of vessel
11:03 Jan De Nul halfway through installation of 600MW Kriegers Flak Wind Farm
10:09 Strong 2020 cargo volumes show resiliency of the Port of Vancouver and port industries during a challenging year

2021 April 9

18:08 Everfuel signs MOU for hydrogen supply to new zero-emission ship concept
17:45 SASCO’s new ship SASCO ALDAN leaves for first voyage
17:16 CMA CGM announces PSS for reefer cargo from Ukraine, Romania, Russia (Black Sea), Georgia & Bulgaria to Asia, the Middle East Gulf & Red Sea
16:54 DCT Gdańsk achieves 15 million TEU milestone
16:37 30 countries join global initiative to tackle marine litter
16:26 Container terminal in Świnoujście to let using inland navigation as a method of hinterland transport
15:48 Port of Long Beach container volumes up by 62.3% to 840,387 TEU in March 2020
15:10 Aleksey Klyavin believes Russia’s current IWW fleet can transport twice as much cargo if infrastructure problems are solved
14:02 SEA-LNG welcomes Puget LNG to coalition
13:49 Port of Liepaja throughput in 3M’2021 declined by 1.3% Y-o-Y
13:14 New ICS Guidance on Maritime Security launched
12:51 Finnish Transport and Communications Agency published Year 2020 at Traficom review
12:14 The US has introduced new safety requirements in the maritime transportation system
11:22 Newly established Northern Dvina River Shipping Company commences operation in Arkhangelsk Region
11:14 GTT receives an order from Hyundai Heavy Industries for the tank design of two new Very Large Ethane Carriers
10:58 Stena Livia joins the Baltic Sea fleet
10:29 Aker Arctic completes full scale ice trials of icebreaking bow Saimaa and tug Calypso
09:55 RF Navy's frigate Admiral Kasatonov passed the Pas-de-Calais
09:33 Oil market sees mixed price movements
09:19 Baltic Dry Index as of April 8
08:20 CMA CGM launches the first low-carbon shipping offer by choosing biomethane

2021 April 8

18:41 The first ship affected by the blockage in the Suez Canal to arrive in Barcelona is operating normally
18:14 Port of Rotterdam reduced its total carbon emissions by 27% in 2016-2020
17:52 New Smiltynė Ferry Terminal ferry is about to be completed
17:25 Sea Port of Saint-Petersburg conducted transshipment of deep-submergence rescue vehicle
17:07 Bunker Weekly Outlook, Week 14, 2021
16:24 Throughput of Murmansk Sea Fishing Port in 3M’2021 climbed by 1% YoY
15:59 BIMCO supports global seabed mapping initiative
15:36 SAFEVUE.ai selected by Eaglestar as maritime shifts towards safety solutions centred around human factors
15:00 Damen delivers new LUV 1908 aquaculture support vessel to Organic Sea Harvest
14:48 KN announces market consultation on acquisition of FSRU
14:22 Port of Singapore to revise its port dues rates
13:21 Port of Ipswich expertly handles large rice vessel operation
13:03 Oboronlogistics meets requirements of ISM Code
12:21 MAN Energy Solutions starts ‘AmmoniaMot’ project
12:06 Revision in Port Dues Rates in the Port of Singapore
12:01 Wärtsilä collaborates with Finnish Border Guard in testing of Bio LNG fuel for reducing greenhouse gas emissions
11:24 Waterways of Saint-Petersburg to open for small-size ships on April 15
11:03 Port of Melbourne welcomes longest vessel to dock in Melbourne
10:35 Rosmorport set to complete dredging of KSK grain terminal’s operating water area this year
10:13 Rosmorport commences dredging on Volga-Caspian Sea Shipping Channel
10:07 Nor-Shipping gathers hydrogen leaders to map out fuel of the future at Ocean Now
09:51 Throughput of Yeisk port in 3M’21 rose by 22% YoY
09:28 Oil prices start decreasing
09:10 Baltic Dry Index as of April 7
08:09 DP World to invest £40M in the development of the Southampton terminal

2021 April 7

18:47 MISC takes delivery of its sixth very large ethane carrier
18:26 HMM Nuri fully laden on maiden voyage