KazTransOil to cut oil transportation to 26.8 mln tons in 2001

/IRBIS, March 19, 01/ - REUTERS informs that KazTransOil, the national pipeline company of Kazakhstan, forecasts oil transportation decrease this year from 27.779 mln to 26.757 mln tons due to planned setting into operation the Caspian Pipeline Consortium (CPC). The company informs that last year oil transportation reached 27.779 mln tons. The transportation has been increasing since 1998 due to an increase in oil production in the country, reaching 25.000 mln tons in 1999 against 24.104 mln in 1998. Oil turnover is expected at 19.919 bln ton-kilometers this year relative to 19.102 bln ton-kilometer last year. KazTransOil also controls water transportation in the country, which is planned to be increased up to 38.363 mln cubic meters from 34.752 mln cubic meters. Water supply volumes increase is explained by the company as the result of signing agreements with the consumers and increase in consumption by such companies as Mangistaumunaigas and Tengizchevroil. The company's capital investments are said to reach KZT7.481 bln, and investment projects KZT2.500 bln, though there were no figures for last year. Budgetary payments of the company can reach KZT7.37 bln, however due to a reduction in VAT from 20 to 16%, and social tax from 26 to 21% in July 1 this amount could be lower. The government of Kazakhstan is said to have 100% stake in the company. The CPC pipeline is to be put into service in summer of this year and it will connect Kazakhstani oil fields with the Russian Novorossiisk sea port. Last year the country's oil production reached 30.6 mln tons, or 14.7% increase relative to previous year. The Ministry of energy and mineral resources says oil exports reached 23.7 mln tons.